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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Initiated in 2015, the French Ministry for the Armed Forces organized the first international conference “Defence and climate: what are the stakes?”. Since then, the Ministry has been constantly adapting and developing its capacity of anticipation.
On 25 January 2019, the UN Security Council held an open debate to discuss the security implications of climate-related disaster events. The meeting, initiated by the Dominican Republic, underscored the global nature of climate-related disasters. Most speakers highlighted the need for better climate risk management as an important contribution to safeguarding international peace and security. The debate marks the beginning of a year in which climate security ranks high on the UN’s agenda.
Today, Friday 25th January 2019, the UN Security Council will hold an open debate addressing the impacts of climate-related disasters on international peace and security (at 4pm CET and 10am EST). President Danilo Medina of the Dominican Republic will chair the meeting, which will also include the participation of several member states at ministerial level.
The unabated growth of natural resource consumption raises risks that we will outstrip the capacities of ecosystems and governance institutions. At the same time, to achieve important global goals related to poverty alleviation, public health, equity and economic development such as those embodied in the United Nations Sustainable Development Goals (SDGs), we will simultaneously need more resources and better management of natural resources everywhere.