sense for the eurosystem to launch a large - scale public awareness drive. once that decision to introduce the digital euro has been taken, there will of course be an advertising and education campaign. and that will be necessary. currently, there are fundamental misunderstandings about the digital euro. even within the group of respondents that had already heard of it, 26 percent had no idea what the digital euro actually is. only 17 percent said something like, the digital euro is intended to serve as an additional means of payment issued by the central bank. in other words, only seven out of a hundred germans know about cbdc and have understood its concept correctly. all the others either don't know about the digital euro or don't have a clear picture of it. some confuse it either with cryptocurrencies or with cashless means of payment in general. others think it is intended to replace cash or monitor their payment flows. such misconceptions are certainly related, in part, to negative campaigns and fake news about the digital euro. and they suggest it will be a challenge to tell people what the digital euro really is ( and what it isn't ). the encouraging takeaway from the survey is that half of all respondents could generally imagine using a digital euro. that particular question was preceded by an explanation that it would be a digital form of cash as an additional means of payment, issued by the central bank. and that cash would continue to exist. moreover, i am confident that many of those who currently cannot imagine using the digital euro will change their minds once they see it in practice. the survey also showed what characteristics a digital euro needed to have in order for people to embrace it. for example, 59 percent of the respondents said that having an option to pay offline was important or very important ; 72 percent said it was important that a digital euro would be based on a purely european infrastructure. however, the most important feature for respondents is the protection of privacy. three out of four respondents said it was important or very important for the digital euro to protect their privacy better than existing payment options. 4 the digital euro and the protection of privacy to make the digital euro a success, it is therefore of the essence to provide the highest possible level of privacy, while complying with anti - money laundering regulations. 3 / 4 bis - central bankers'speeches therefore, i am pleased to note that the panel immediately following my video message will be focusing on privacy and cbdc.

tcfd : strengthening the foundations of sustainable finance speech given by mark carney, governor of the bank of england tokyo, tcfd summit 2019 08 october 2019 i am grateful to jennifer nemeth for her assistance in preparing these remarks, and to ryan barrett, jennifer bell, benjamin bowry, kaja chhapia, lawrence dimery, benjamin guin, christopher gynn, sini matikainen, gordon readhead, mathesh sripraba, quynh - anh vo and matthew willison for background research and analysis, as well as to pwc for their research work.. all speeches are available online at www. bankofengland. co. uk / news / speeches introduction it is an honour to join this inaugural tcfd summit. there could be no better host than japan. prime minister abe made climate change an important theme of the japanese g20 presidency, calling on nations to put ‘ promises into practice ’. and environment minister koizumi recently said japan is “ committed to realising a decarbonised society. ” japanese companies are heeding these calls. in the past year, almost 200 japanese firms have joined the tcfd, bringing japan to the top of the tcfd league table. 1 this welcome progress, and that of the tcfd more generally, must be set against growing challenges. over the past five years, global carbon emissions have risen by 20 % and sea levels by over 3. 3mm per year. 2 global temperatures are on course to increase by 3. 4°c by 2100. 3 chart 1 : global warming projections to 2100 under different policy pathways the physical impact of these changes will not be evenly distributed. with ferocious typhoons, recordbreaking heatwaves and major landslides, japan is already at the sharp end of a new pattern of devastating extreme weather events. full list of current tcfd supporters available at : https : / / www. fsb - tcfd. org / tcfd - supporters /. climate. nasa. gov. available at : https : / / climate. nasa. gov / vital - signs / sea - level /. source : climate action tracker. data available at : https : / / climateactiontracker. org / global / temperatures /. all speeches are available online at www. bankofengland. co. uk / news / speeches the transition to a low carbon economy will also bring its own risks