1. While Covid-, conflict-, central banking- and China-led risks are well discussed, the fifth one, climate change, needs to come into sharp focus now.
   
   
2. The last budget conveyed a more serious intent to include the climate agenda in the budgetary process and facilitate green transition.
   
   
3. While the government cannot control the physical climate risks to the sector, it can introduce policies that speed up other efficiency improvements.
   

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