Mark Carney, the governor of the Bank of England, has become the latest person to deliver a blunt warning about the risks of climate change to global financial stability. Speaking at Lloyd’s of London, Carney warned that “the catastrophic impacts of climate change will be felt beyond the traditional horizons of most actors – imposing a cost on future generations” and that “climate change will threaten financial resilience and longer-term prosperity.”
His speech came as the Bank of England published a report on the impact of climate change on the British insurance industry, to be presented to the UK government, and sees the governor join a host of economic figureheads warning about the risk of continued reliance on dirty fossil fuels.
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Several climate security studies have assessed the risks of climate change to security and examined potential foreign policy responses, but the connection between climate change and foreign policy remains underexplored. The new Climate Diplomacy Report of the German Foreign Office takes up the challenge.
Egypt, Ethiopia and Sudan are currently engaged in vital talks over the dispute relating to the filling and operation of the Grand Ethiopian Renaissance Dam on the Nile River. While non-African actors are increasingly present in the negotiations, the African Union (AU) is playing a marginal role.
Climate change was more central than ever at this year’s Munich Security Conference (MSC), the leading international forum for senior military, security and foreign policy leaders. The release of the inaugural “World Climate and Security Report 2020” (WCSR 2020) by the Expert Group of the International Military Council on Climate and Security (IMCCS) should help policymakers take effective action.
The mission of the Munich Security Conference is to “address the world’s most pressing security concerns”. These days, that means climate security: climate change is the ultimate threat multiplier, and anyone discussing food security, political instability, migration, or competition over resources should be aware of the climate change pressures that are so often at the root of security problems.