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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U.S. diplomats used to receive guidance about climate change and migration. The Government Accountability Office is recommending the State Department bring it back.
The report, requested by the US Congress in 2017, drew sharp criticism for being too thin on details and failing to show which bases are most at risk across the military.
The Katowice climate package brings minor progress, but COP 24 failed to deliver on the most fundamental issues such as raising ambition of national contributions, implementing human rights, and ensuring support for developing countries.
Brazil has demoted climate diplomacy as part of a foreign ministry shake-up, in Jair Bolsonaro’s first two weeks as president.