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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“I want you to panic”. This was the message that 16 year-old climate activist Greta Thunberg gave to the World Economic Forum in Davos on 25 January, and in it she struck right to the intergenerational justice issue at the heart of the sustainability project.
The Hague Declaration on Planetary Security signed in 2017 outlines six action areas that require special attention, necessitating “concrete steps” at both global and local levels.
At COP24, India-based Sheela Patel from SPARC talked to Lou del Bello about how climate change affects people in informal settlements the most – and about strategies to address their special needs.
Climate change has been identified and recognized as a security issue and a threat multiplier by the international community, and climate security is now an integral part of security agendas in key international fora from New York to The Hague and Munich. As 2019 kicks off, action and implementation on climate security take centre stage.