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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French environment minister Nicolas Hulot has resigned live on national radio in a surprise move that will come as a blow to president Emmanuel Macron’s green credentials. Nicolas Hulot had not made the French president aware of his decision to quit, he told radio presenters, adding his time in office had been an ‘accumulation of disappointments’.
Liberia’s largest palm oil producer, Golden Veroleum Liberia (GVL) pulls out of the Roundtable on Sustainable Palm Oil (RSPO) – how can rural communities cope with the impacts? The forests near GVL’s Liberian plantations are not only sacred sites of the region's people but also heavily populated with chimpanzees, leopards, pygmy hippopotamus and forest elephants which are significant not only to the local ecosystem but globally.
Mine closures have caused social and political turmoil in many regions, for example in South Africa. But there are ways of planning and managing the phase-out so that when the inevitable happens, people are better prepared. A new study looks at opportunities beyond mining and finds that infrastructure that supports mining can also be put to new use.
Population pressure, a lack of economic opportunities, environmental degradation, and new forms of travel are contributing to human displacement and unsafe migration on an unprecedented scale. And as millions more people see climate change erode their livelihoods, the problem will get worse in the absence of visionary global leadership.