Panetta opens Green Swan Conference on climate resilience

Banca d’Italia Governor Fabio Panetta opened the Green Swan Conference 2026 with remarks on climate resilience, risk-sharing and adaptation.

• He said the conference is jointly organized by the BIS, Bangko Sentral ng Pilipinas, Banca d’Italia and the NGFS, and framed the address around understanding, sharing and reducing climate risk.
• He highlighted that extreme weather caused more than USD 200 billion in direct damages in 2025, cited AI as useful for climate modelling and early warning, and noted that Italy has introduced compulsory insurance for floods, earthquakes and landslides for non-agricultural firms.
• The speech also argued that adaptation is underfunded, emphasized the role of governments and multilateral development banks, and warned that the expansion of data centers raises demand for energy, water and critical raw materials.