[MCN] A bad bad climate for capitalism

[Lance Olsen]

"Severe weather events are followed by equally extreme financial costs. As Morgan Despres, Head of the Secretariat of the Network for Greening the Financial System (NGFS), told World Finance: 'Climate change will affect the global economy, and so the financial system that supports it.’ ”

https://www.worldfinance.com/markets/climate-change-continues-to-wreak-havoc-on-the-global-economy <https://www.worldfinance.com/markets/climate-change-continues-to-wreak-havoc-on-the-global-economy>

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“Booms have consequences.”

James Grant. Money of the Mind : Borrowing and Lending in America from the Civil War to Michael Milken. Farrar Straus Giroux. 1992.
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“The growth in CO2 emissions closely follows the growth in Gross Domestic Product (GDP) corrected for improvements in energy efficiency.”

P. Friedlingstein, et al. “Update on CO2 emissions.” 
Nature Geoscience. Published online: 21 November 2010
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“Changes in world GDP (WGDP) have a significant effect on CO2 concentrations, so that years of above-trend WGDP are years of greater rise of CO2 concentrations.”

Granados et al. Climate change and the world economy: short-run determinants of atmospheric CO2. Environmental science & policy 21 (2012) 50–62


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