urgent, when decision - making processes need timely and high - quality studies, which can benefit from broader cross - country perspectives. these international awards are a way of encouraging both competition and cooperation. the aim is to not only recognise the extra talent of the winning teams, but also to get to know that of the other participants. this is why we arranged this awards ceremony. therefore, i would like to salute also those teams who have not won any prize and reassure them that there will be many more opportunities in future months. as a final word, let me take this wonderful opportunity to thank our colleagues and organizers from the bis and the bank of italy for their ceaseless patience and hard work in taking up an exceptional organizational challenge. thank you all. 2 / 2 bis central bankers'speeches

ignazio visco : awards ceremony for the g20 techsprint on green and sustainable finance welcome remarks mr ignazio visco, governor of the bank of italy, at the awards ceremony for the g20 techsprint on green and sustainable finance, organized by the bank of italy and the bank for international settlements, milan, 25 october 2021. * * * i am delighted to welcome you to this awards ceremony for the second g20 techsprint on green and sustainable finance organized by the bank of italy and the bank for international settlements. i would like to thank benoit cœure, andrew mccormack and the whole team from the singapore bis innovation hub for their invaluable cooperation in all the steps of our techsprint. techsprints are technological competitions designed to spur innovation, collaboration and creative solutions to daunting problems. our g20 techsprint had a very ambitious goal. it was designed to help financial markets in sharpening their assessment and selection tools for channeling funds towards green and sustainable finance, leveraging on the latest technologies. fintech and innovators were summoned to put forward their best solutions. i am very pleased that the improvement in the public health situation, following remarkable progress in the vaccination campaign, allows me to be here in milan to acknowledge the achievements of the 21 brilliant finalist teams who have offered valuable technological contributions in a very special area. indeed, finding ways to foster appropriate green and sustainable finance to invest in the crucial fight against climate change has been one of the key priorities of the italian presidency of the g20 this year. the urgency of acting to stop climate change and of mitigating its consequences is plain to see. the increase in the intensity and frequency of extreme weather events has obvious, and major, social, as well as economic, consequences. central banks and supervisory authorities, international institutions and market participants have therefore been paying significant and increasing attention in recent years to developing a better understanding of the implications of climate change for the financial sector and financial stability. in fact, climate change - related financial risks pose both micro - and macroprudential concerns, but analysis and research are still at an early stage. although there is broad consensus within the scientific community on the trends and causes of climate change, the timing and magnitude of future climate outcomes remain uncertain. this range of possible future physical outcomes arising from climate change is crucial to understanding “ climate risks ” ( or better again, “