[MCN] Climate and the economy: How safe are the banks?

[Lance Olsen]

MAKING CLIMATE CHANGE BANKS' BUSINESS <http://www.huffingtonpost.com/entry/making-climate-change-banks-business_us_59c11678e4b0f96732cbc908>
HuffPost 21h ago
http://www.huffingtonpost.com/entry/making-climate-change-banks-business_us_59c11678e4b0f96732cbc908 <http://www.huffingtonpost.com/entry/making-climate-change-banks-business_us_59c11678e4b0f96732cbc908>

1st 2 paragraphs [ bold emphasis added]

The devastation caused by Hurricane Irma across the Caribbean and Florida has served as a reminder to pension funds and asset managers of the urgent need to step up the fight against climate change. Financing new low-carbon technology and climate mitigation infrastructure will be on the agenda this week during New York Climate Week, highlighting the important role the world’s 60 biggest banks have to play in rising to this challenge, as the main financial intermediaries in the global economy.

That’s why this month Boston Common has continued to lead a coalition of over a hundred investors with assets totalling nearly $2 trillion, calling on the world’s largest banks – including the likes of HSBC, Lloyds, Bank of America, JPMorgan Chase, Morgan Stanley and Deutsche Bank - to disclose more information about their exposure to climate-related risks and opportunities, and how these are being managed by banks’ Boards and senior executives.

http://www.huffingtonpost.com/entry/making-climate-change-banks-business_us_59c11678e4b0f96732cbc908 <http://www.huffingtonpost.com/entry/making-climate-change-banks-business_us_59c11678e4b0f96732cbc908>

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“Given the speed of climatic changes and numerous physiological constraints, it is unlikely that human 
physiology will evolve the necessary higher heat tolerance. “
 
Mora et al. Global risk of deadly heat. Nature Climate Change. Published online 19 June 2017
DOI: 10.1038/NCLIMATE3322
 
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“In 1972, pursuing his calculations of ice-cover feedbacks, Budyko declared that, at the rate we were pumping CO2 
into the atmosphere, the ice covering the Arctic Ocean might melt entirely by 2050."

“Most scientists spoke more cautiously.”

Physics Today (American Institute of  Physics)
http://scitation.aip.org/content/aip/magazine/physicstoday/article/56/8/10.1063/1.1611350






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