Bank Of Canada Names Climate Change As Key Economic Risk

Climate-change risks include the consequences of extreme weather events, such as flooding, hurricanes and severe droughts.

The transition will likely lead to complicated structural adjustments for carbon-intensive sectors, such as oil and gas, and could leave insurance companies, banks and asset managers more exposed, the report said. In some cases, the bank said fossil fuel reserves could be left in the ground, which could drain the value of important assets.

Economic activity and the environment are intertwined. ... Most experts agree that the global climate is changing and that this has growing implications for the economy. But the range of possible outcomes is large.In addition to climate change, the report also underlined the emerging vulnerability of rising corporate debt levels in the non-financial sector — a growing concern seen in other advanced economies.

Both have been persistent weak spots in recent years and the improvements are due to a slowdown in credit growth since 2017 that coincided with stricter mortgage-lending policies and past interest-rate hikes.

They expect to cash in on it through massive loans with a lovely interest attached to it. Since when did people trust what banks say!

ClimateCrisis

cstclair1 All I know is, it won’t be good.

ah when u base a lie on nothing? what good is 5g if a leaf can end your call?

Long overdue that we prioritize climate change!

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