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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In this interview, EcoPeace Directors Nada Majdalani (Palestine), Yana Abu-Taleb (Jordan) and Gidon Bromberg (Israel) explain why disengaging from a shared environment can aggravate the region’s security challenges.
At the conclusion of the 50th Pacific Islands Forum, Pacific leaders issued a Forum Communiqué and the ‘Kainaki II Declaration for Urgent Climate Change Action Now’ – the strongest collective statement the Forum has issued on climate change. Pacific leaders highlight the UN Secretary-General’s Climate Action Summit, the SAMOA Pathway Review, and 25th session of the Conference of the Parties (COP 25) to the UNFCCC as “global turning points to ensure meaningful, measurable and effective climate change action”.
If ratified, the Mercosur-EU trade deal may reinforce the parties’ commitment to climate action. Yet, its potential relevance is weakened by a language that often stops short of concrete commitments, as well as political resistance.
Iraq is on the verge of an environmental breakdown, and climate change is not helping. The country's fragile environment and the increasing scarcity of natural resources — particularly water — are a result of poor environmental management, as well as several political and historical factors. However, as climate change impacts add to the existing pressures, the environmental collapse turns into a security issue.