<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(113, 115, 117);" class=""><span style="color: #000000" class="">Reuters </span><span style="font-kerning: none; background-color: #ffffff" class="">JANUARY 20, 2020 </span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(113, 115, 117); background-color: rgb(255, 255, 255); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(63, 63, 64);" class=""><span style="font-kerning: none; background-color: #ffffff" class=""><b class="">Central banks can't save the world from climate change, BIS says</b></span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(63, 63, 64); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(113, 115, 117);" class=""><span style="font-kerning: none; background-color: #ffffff" class=""><a href="https://www.reuters.com/journalists/marc-jones" class="">Marc Jones</a>, <a href="https://www.reuters.com/journalists/john-revill" class=""><span style="font-kerning: none" class="">John Revill</span></a></span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal; color: rgb(0, 0, 238);" class=""><span style="font-kerning: none; color: #313132; background-color: #ffffff" class=""><<<a href="https://www.reuters.com/article/us-climatechange-cenbank-bis/central-banks-cant-save-the-world-from-climate-change-bis-says-idUSKBN1ZJ19E" class=""><span style="-webkit-font-kerning: none; color: rgb(0, 0, 238); background-color: transparent;" class="">https://www.reuters.com/article/us-climatechange-cenbank-bis/central-banks-cant-save-the-world-from-climate-change-bis-says-idUSKBN1ZJ19E</span></a>>></span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(113, 115, 117); background-color: rgb(255, 255, 255); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="font-kerning: none; background-color: #ffffff" class=""><b class="">Excerpts</b></span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(113, 115, 117); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(49, 49, 50);" class=""><span style="font-kerning: none; background-color: #ffffff" class="">BASEL/LONDON (Reuters) - Central banks can’t be expected to save the world from climate change, a new book by the Bank for International Settlement said on Monday, urging instead global co-ordination ranging from government policy to financial regulation.</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(49, 49, 50); min-height: 17px;" class=""><br class=""><span style="font-kerning: none" class=""></span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(49, 49, 50);" class=""><span style="font-kerning: none; background-color: #ffffff" class="">“I think we might be on the brink of observing something that might be behind the next systemic financial crisis,” Luiz Awazu Pereira Da Silva, one of the book’s main authors, told reporters.</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(49, 49, 50); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(49, 49, 50);" class=""><span style="font-kerning: none; background-color: #ffffff" class="">If the more extreme climate scenarios start to play out, central banks, having played a vital role in the financial crisis, might be asked to step in as the “climate rescuer of last resort”.</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(49, 49, 50); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(49, 49, 50);" class=""><span style="font-kerning: none; background-color: #ffffff" class="">“A new global financial crisis triggered by climate change would render central banks and financial supervisors powerless,” the BIS book, which was also led by the Bank of France, said. “We cannot be the only game in town”.</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(49, 49, 50); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(49, 49, 50); background-color: rgb(255, 255, 255);" class=""><span style="font-kerning: none" class="">For full report click <a href="https://www.bis.org/publ/othp31.htm" class=""><span style="font-kerning: none; color: #313132" class="">www.bis.org/publ/othp31.htm</span></a></span></div><div class="">
<div dir="auto" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div dir="auto" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div dir="auto" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div class=""><div dir="auto" style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div dir="auto" style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><span style="font-size: 12px;" class="">————————————————————————————————————======<br class="">“A new area of study is the field that some of us are beginning to call <u class="">social traps</u>. The term refers to situations in society that contain traps formally like a fish trap, where men or whole societies get themselves started in some direction or some set of relationships that later prove to be unpleasant or lethal and that they see no easy way to back out of or to avoid."</span></div><div dir="auto" style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><span style="font-size: 12px;" class=""><br class="">John Platt. Social Traps. American Psychologist, August 1973</span><div class=""><span style="font-size: 12px;" class=""><br class=""></span></div><div class=""><div style="margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="font-size: 12px;" class="">~~~~~~~~~~~~~~~~~~~~</span></div><p style="margin: 0px 0px 12px; font-stretch: normal; line-height: normal; color: rgb(35, 31, 32);" class=""><span style="font-size: 12px;" class=""><span style="-webkit-font-kerning: none;" class="">“Our results indicate that<span style="background-color: rgb(255, 251, 0);" class=""> terrestrial ecosystems are highly sensitive to temperature change</span> and suggest that, </span><span style="-webkit-font-kerning: none;" class="">without major reductions in greenhouse gas emissions to the atmosphere, terrestrial ecosystems worldwide are at</span> risk of major transformation.”</span></p><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(35, 31, 32);" class=""><span style="-webkit-font-kerning: none; font-size: 12px;" class="">Nolan et al. Past and future global transformation of terrestrial ecosystems under climate change. </span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(35, 31, 32);" class=""><span style="-webkit-font-kerning: none; font-size: 12px;" class="">Science 31 August 2018 </span></div></div><div class=""><span style="-webkit-font-kerning: none; font-size: 12px;" class=""><br class=""></span></div></div></div></div></div></div></div><br class="Apple-interchange-newline">
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