Jean-Claude Trichet, former president of the European Central Bank, has warned that the global financial system requires an orderly transition to a potential changing mix of reserve currencies, while welcoming central banks’ clearer focus on combatting climate change. Trichet was speaking at the launch of the eighth annual Global Public Investor, published on 21 July by OMFIF. It includes a benchmark study of the asset allocation plans of reserve managers, sovereign funds and public pension funds with a combined $42.7tn in assets under management. Among its key findings, the report revealed fundamental changes in ... (full story)