The Bank of Italy wouldn’t be committing itself to net zero any time soon, said Angelini. While saying pushing Europe to net zero risks destabilising the continent’s economy and undermining Europe’s ability to lead on green issues globally, the top economist made his point by revealing he’d asked his team at the Bank of Italy what would be necessary just to make the single institution that he leads compliant.Īngelini revealed the shocking response, remarking in an interview with Politico: “They told me: ‘If you allow us to tear down all our historical buildings and build energy efficient ones, then we can do it’.” A top central banker has warned of the economic damage that the rush to ‘Net-Zero’ could cause, and illustrates the point by stating that deleting Europe’s architectural history would be required to achieve severe green expectations.Īmong the comments made by Paolo Angelini, deputy governor of the Bank of Italy, about European Net Zero ambitions that, in his opinion, risk inflicting more harm than good, the central banker outlined the level of change that Europeans would need to satisfy those demands.
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