<
https://theconversation.com/green-finance-was-supposed-to-contribute-solutions-to-climate-change-so-far-its-fallen-well-short-268666>
"A decade ago, a seminal speech by Mark Carney, then governor of the Bank of
England and current Canadian prime minister, set out how climate change
presented an economic risk that threatened the very stability of the financial
system.
The speech argued the finance sector must deeply embed climate risk into the
architecture of the industry or risk massive damages.
It was Carney’s description that stuck, calling this the “tragedy of the
horizon”:
that the catastrophic impacts of climate change will be felt beyond the
traditional horizons of most actors, imposing a cost on future generations
that the current generation has no direct incentive to fix.
He added that by the time those climate impacts are a defining issue for
financial stability, it may already be too late."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
