[MCN] Climate risk update : Banks and banking : Forests and trees

[Lance Olsen]

“Banks have helped cause much of the crisis we find ourselves in; it would be fascinating if they turned out to be one of the solutions.”

Bill McKibben

<<https://www.newyorker.com/news/annals-of-a-warming-planet/how-banks-could-bail-us-out-of-the-climate-crisis>>

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The Wall Street Journal  Nov. 27, 2020

How Property Booms Eat Our Economic Future
Growing body of research looking at U.S. and Chinese real-estate markets suggests long booms may drag on productivity of the economy
By Mike Bird

This October, U.S. housing sales hit their highest level since 2006. China’s residential real-estate investment was up 14% relative to the same month last year. 

Around the world, many housing markets have shrugged off a colossal economic slump, helped by low interest rates.

In the short term, such investment is a boost to economic activity in a year where headline figures have collapsed. But there are significant downsides. The fact that housing booms can be a longer-term risk to financial stability is well known, but a growing...

The rest is behind paywall
https://www.wsj.com/articles/how-property-booms-eat-our-economic-future-11606466679? <https://www.wsj.com/articles/how-property-booms-eat-our-economic-future-11606466679?>

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Canada: Stress-Testing The Impact Of Climate Change On Canada's Financial System <https://www.google.com/url?rct=j&sa=t&url=https://www.mondaq.com/canada/climate-change/1010574/stress-testing-the-impact-of-climate-change-on-canada39s-financial-system&ct=ga&cd=CAEYACoTNjk5NTM5NDgxMjExODIwNDA5MzIaOGEyODFlNzQ3ZjE3MjM2ZDpjb206ZW46VVM&usg=AFQjCNFgsYDnbbygDE27RgvkDnSVIKm6tw>
Mondaq News Alerts
The project will use scenario analysis to stress test participating financial institutions to evaluate their exposure to the risks of climate change and the …
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 <https://www.americanbanker.com/news/why-banks-should-stress-test-for-climate-change>
American Banke <https://www.americanbanker.com/news/why-banks-should-stress-test-for-climate-change>r magazine: Why banks should stress-test for climate change |  <https://www.americanbanker.com/news/why-banks-should-stress-test-for-climate-change>
Jan 2, 2019 — Bank portfolios are chock full of loans to industries — think agriculture, tourism, real estate and energy — that could be particularly hard hit by ...

www.fitchratings <https://www.fitchratings.com/research/banks/climate-stress-tests-will-eventually-influence-bank-capital-10-09-2020> : Climate Stress Tests Will Eventually Influence Bank Capital <https://www.fitchratings.com/research/banks/climate-stress-tests-will-eventually-influence-bank-capital-10-09-2020>
Sep 10, 2020 — The US, meanwhile, shows no sign of introducing climate-risk stress tests for its banks. French and UK banking regulators are among the first to ...
 <https://www.americanbanker.com/news/pressure-mounts-on-u-s-bank-regulators-to-stress-test-for-climate-change>
American Banker <https://www.americanbanker.com/news/why-banks-should-stress-test-for-climate-change> : Pressure mounts on US bank regulators to stress test for climate <https://www.americanbanker.com/news/pressure-mounts-on-u-s-bank-regulators-to-stress-test-for-climate-change>
September 20, 2020, Pressure mounts on U.S. bank regulators to stress test for climate change.
 
Climate change threatens banks far more than they're disclosing <https://www.cnbc.com/2020/10/19/climate-change-threatens-banks-far-more-than-theyre-disclosing.html>
www.cnbc.com › 2020/10/19 › climate-change-threatens-... <https://www.cnbc.com/2020/10/19/climate-change-threatens-banks-far-more-than-theyre-disclosing.html>
Oct 19, 2020 — The U.S. banking sector, including the largest Wall Street firms, is far more ... climate risk into their scenarios analysis and into their stress tests.

First-of-its-kind report finds U.S. banking sector far more ... <https://www.ceres.org/news-center/press-releases/first-its-kind-report-finds-us-banking-sector-far-more-exposed-climate>
www.ceres.org › News Center › Press Releases <https://www.ceres.org/news-center/press-releases/first-its-kind-report-finds-us-banking-sector-far-more-exposed-climate>
Oct 19, 2020 — The U.S. banking sector is far more exposed to the systemic and financial ... like stress testing and scenario analysis, and; Build climate risk into .

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“Such an explanation does not fit England. The wood crisis there has to be attributed to the requirements of expanding agriculture, industry and commerce, all stimulated by a growing, shifting population.”

“The population of England and Wales, about three million in the early 1530's, had nearly doubled by the 1690's. The resulting demand for wood for various purposes was further increased by changes in the distribution of the population.”

“ … although only one person in 10 was a townsman in the 1530s, one person in four was a townsman in the 1690s.”

John U. Nef. An Early Energy Crisis and Its Consequences. Scientific American November 1977

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“At an intensively studied site within the region, we quantified that after 15 months of depleted soil water content, >90% of the dominant, overstory tree species died. …. Notably, the recent drought was warmer than the previous subcontinental drought …. die-off from the recent drought was more extensive than that from the previous drought, extending into wetter sites within the tree species’ distribution.”

“Most of the patchy mortality in the 1950s was associated with trees 100 years old, whereas nearly complete tree mortality across many size and age classes was observed in response to the recent drought (ref. 22 and data for Figs. 2D and 3B).”

Breshears et al (2005) Regional vegetation die-off in response to global-change-type drought. PNAS October 15, 2005

https://www.pnas.org/content/pnas/102/42/15144.full.pdf <https://www.pnas.org/content/pnas/102/42/15144.full.pdf>

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 <https://www.smithsonianmag.com/smart-news/trees-are-growing-fast-and-dying-young-due-climate-change-180975819/>
Trees Are Growing Fast and Dying Young Due to Climate ...www.smithsonianmag.com › smart-news › trees-are-gro... <https://www.smithsonianmag.com/smart-news/trees-are-growing-fast-and-dying-young-due-climate-change-180975819/>
Sep 16, 2020 — Trees Are Growing Fast and Dying Young Due to Climate Change. Rapid growth reduces the capacity of forests to absorb and store carbon ...
 <https://www.zmescience.com/science/trees-grow-fast-die-young-043242/>
Trees that live fast die young and this is bad news for the ...www.zmescience.com › Science <https://www.zmescience.com/science/trees-grow-fast-die-young-043242/>
Sep 9, 2020 — “Carbon uptake rates of forests are likely to be on the wane as slow-growing and persistent trees are supplanted by fast-growing but vulnerable ...
 <https://www.carbonbrief.org/european-forests-could-live-fast-and-die-young-in-a-warming-climate>
European forests could 'live fast and die young' in a warming ...www.carbonbrief.org › european-forests-could-live-fast... <https://www.carbonbrief.org/european-forests-could-live-fast-and-die-young-in-a-warming-climate>
May 15, 2019 — Climate change could cause trees to grow faster, accelerating the rate at which they absorb carbon from the atmosphere. But these trees may ...
 <https://www.theguardian.com/environment/2020/sep/08/shorter-lifespan-of-faster-growing-trees-will-add-to-climate-crisis-study-finds>
Shorter lifespan of faster-growing trees will add to climate crisiswww.theguardian.com › environment › sep › shorter-li... <https://www.theguardian.com/environment/2020/sep/08/shorter-lifespan-of-faster-growing-trees-will-add-to-climate-crisis-study-finds>
Sep 8, 2020 — Rise in carbon capture as global warming speeds growth of forests would ... Live fast, die young is a truism often applied to rock stars but could ...

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“Ten thousand years ago there were between 1 and 5 million people on the planet.  There was plenty of room to expand and move, and resources seemed endless.” 

Niles Eldredge. Dominion. 1995. University of California Press.

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"Forests of the Americas and the Caribbean are undergoing rapid change as human populations increase ….. 80% of the forest types and 85% of the current forest area is potentially threatened”

Open access article here: <<https://onlinelibrary.wiley.com/doi/10.1111/conl.12623 <https://onlinelibrary.wiley.com/doi/10.1111/conl.12623>>>



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