Mark Carney (BoE) and Risks of Climate Change

Mark Carney discussed the risks of climate change in a speech on September 29 2015 (video). He discussed three types of risk:

Carney said there were three ways in which climate change could affect financial stability: physical risks, such as claims from floods and storms; liability risks that could arise if those suffering climate change losses sought compensation from those they held responsible; and transition risks caused by the revaluation of assets caused by the adjustment to a lower-carbon economy.

Larry Elliott, Guardian

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