(Associated Press) The New York Stock Exchange in lower Manhattan. Major U.S. lenders warn Fed that failure to act on climate change could have ‘disastrous impacts’ on markets
There’s been a steady drumbeat in recent weeks from reports that have a common thread: The threat of climate change hasn’t taken a hiatus during the coronavirus pandemic.
Being reminded of the world’s other existential crisis doesn’t seem fair right now, but there’s no hiding from that one, either.
The scientific analyses of climate change are even more urgent than before, which almost didn’t seem possible.
But what has stood out is that major business interests and investors are publicly warning that climate change likely will be devastating to the economy and the markets if the Federal Reserve Board and other regulators don’t take action.
That may finally obliterate the fading narrative that policies aimed at combating climate change harms economic growth because it takes the threat beyond the realm of scientists, environmentalists and “green” politicians and places it in the middle of Wall Street.Meanwhile, the growing theme that the economy can thrive while taking on climate change is the major takeaway from a study released Tuesday by the World Resources Institute . That report […]
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