Governor of the Bank of England (BoE), Mark Carney, has recently reiterated that global banks cannot ignore climate change dangers and the financial risks from extreme weather and vulnerable assets. According to the article, the governors of the Bank of England and France’s central bank have warned that the global financial system faces an existential…
Central Banks Are Thinking Greener as Climate Change Hits Policy Jana Randow and Piotr Skolimowski at Bloomberg write a very concise and informative summary of central bank responses to the climate crisis. In particular, they note that:1) Monetary authorities are studying how to handle changes2) Financial risks and economic trouble could emerge, they worry “Climate…
World Bank Group Financial Flows Undermine the Paris Climate Agreement: The WBG contributes to higher profit margins for oil, gas, and coal The full report by Urgewald can be found here: https://urgewald.org/sites/default/files/World_Bank_Fossil_Projects_WEB.pdf “These fossil fuel investments make up a greater share of the bank’s current energy lending portfolio than renewable projects, according to a new…
