Past Program

The Salzburg Global Finance Forum tackles issues critical to the future of financial markets and global economic growth and stability. The Forum offers senior and rising leaders from the financial industry and public sector an opportunity for in-depth, off-the-record conversations on how to build inclusive, open and resilient financial systems and set an agenda for the future.

Founded in 2011 in the wake of the global financial crisis, the overarching goal of the Salzburg Global Finance Forum is to facilitate critical analysis of the changing financial landscape and regulatory environment, comparison of practical experience around the world, understanding of technology-driven transformations, and open dialogue on issues of trust and ethics. Each summer, it convenes an internationally representative group of leaders from financial services firms, supervisory and regulatory authorities, consultancies, auditors, law firms and other professional service providers who share a belief that inclusive, efficient and stable financial systems are essential for sustainable growth, shared economic opportunities and prosperity.

The 2022 program tackled two critical challenges which have important consequences for the financial system of tomorrow:

INTERNATIONAL CARBON MARKETS
In order to achieve net-zero emissions, system-wide recalibration of future economic development is required. Development of international carbon markets is fundamental to this goal. Several stock exchanges, including NASDAQ and LSE launched their carbon initiatives while the development of common standards is underway. The EU’s carbon border adjustment mechanism would effectively impose a “carbon tax” on imports from countries that are not pricing carbon at a comparable level to that of the Union. Yet, many issues are holding back their development, ranging from the fragmentation of markets to lack of credibility and transparency. How can regulators improve supervision and enforcement in carbon markets, achieve recognition and adoption of common standards for trading, and accelerate policy collaboration on recognition of carbon credits?

PUBLIC AND PRIVATE DIGITAL MONEY
As our economies go digital, money and payments are also evolving prompting the emergence of private (cryptocurrencies) and public digital money (CBDCs). CBDCs are intended to provide an alternative to cash, expand financial inclusion and improve the efficiency of payment. However, both crypto and CBDCs raise important challenges and with far-reaching implications for the global financial system. What is the case for CBDCs? Can they achieve the declared goals without endangering domestic and international financial stability as well as data privacy and security? Do private alternatives such as stablecoins offer a viable alternative if properly regulated?
The 2022 program envisioned what is required to create sustainable, lasting changes in financial services, both from a smart policy angle and by bringing all parties that need to collaborate on the design of the optimal frameworks.