Three separate reports released on the same day, coinciding with Australia's worst bushfire season and ongoing political division over environmental policy, point to increasing fears among economic policy leaders that climate change could cause the next global financial breakdown.
The BIS said climate change events that severely affected the financial health of the banking and insurance sectors could force central banks to intervene and "buy a large set of carbon-intensive assets". "If central banks are to preserve financial and price stability in the age of climate change, it is in their interest to help mobilise all the forces needed to win this battle," the bank said.
"Weather-related disasters such as tropical storms, floods, heatwaves, droughts and wildfires have imposed severe humanitarian costs and livelihood loss across multiple regions in recent years," it said.
Someone’s been watching Star Wars - The Rise of Skywalker.
That's funny considering that ClimateChange can't even win a case in the courts.
How about building some nuclear power plants and more coal power plants to keep the economy going! Oh btw... THERE IS NO SUCH THING AS CLIMATE CHANGE!
Economics is a scam, not anchored in natural reality. This system puts 60% of the worlds wealth to billionaires and we are debating theories of control as if the system runs itself. Need to take a real hard look at where economists are taking us and how they advise leaders.
Why not mobilise all that finance to CREATE NEW industries and NEW jobs NOW, vs save the old that should be replaced anyway? Think forward, not backwards! auspol ClimateEmergency ClimateCrisis vision ClimateChange IMF Australia
Ah ok ScottFromMarketing is now taking control. Not sure of what and not sure whether he knows what- Better not to believe him one word Liberals
Someone has to save the economy the LNP are just giving handouts to mates helping themselves ..Run the economy.. you couldn't run a tap..oh that's right there's no water thanks for that as well 🖕
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