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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Until recently, impressive economic growth, stable leadership and its attractiveness as a foreign investment hub put Ethiopia in a positive spotlight. However, the country still ranks low in human development and is highly dependent on rainfed agriculture, making it particularly vulnerable to climate change impacts. Combined with existing tensions and inequalities, climate vulnerability can exacerbate security risks. To mitigate these linkages, Ethiopia’s leadership should support implementation of conflict-sensitive climate change adaptation policies and include climate security in its conflict mitigation strategy.
On 19 November in Dhaka, adelphi partnered with the International Centre for Climate Change and Development (ICCCAD) to hold a roundtable and discussion on climate change and fragility risks in South Asia.
One of the world’s lowest-lying countries invited international experts to discuss the security challenges related to climate change.
Nepal and Afghanistan face a number of serious climate-fragility risks, so adelphi brought together regional government officials and NGO experts for a training in Kathmandu on 9 November 2019.