ECB warns climate crisis threatens core financial stability
The penny drops. Climate change will break our economies. Fragment our societies. Undermine our governance. And erode our security. "Ecosystem services" are our life support processes. Destroying them destroys the foundations of human civilisation.
Climate News9For those who used to believe that central bankers are some of the brightest minds in our societies, then let this be a wake up call. It took European central bankers nearly 3 decades to understand what the most fundamental risk is to the European continent’s economy. THREE DECADES!
bjornsoland.bsky.social1Economy is not science. If it was, the 2008 financial crisis would have been detected long before it happened. Lehman Brothers got a AA rating the day before it defaulted. Bankers are going to do the same again: WOW! - our petroleum fuelled lendings are worthless.
pushkin99.bsky.social1It's a bit late for the penny to drop, and still no sign of meaningful action.
Ko van Huissteden7Al de figuren die altijd maar weer roepen dat de economie belangrijker is dan de klimaatcrisis: even lezen 👇 VERPLICHT.
Filip Palmans 🇺🇦4👇 "If you destroy nature, you destroy the core on which our economies depend."
•Marns🌿🍉🐸2When they realise the climate crisis is going to come after their money. FMD. What will they do though?
The coming years are going to be an excruciating exercise in watching men in expensive suits with important sounding jobs suddenly ‘realize’ the blindingly obvious.
Get Me Zarniwoop5I look forward to the "men in suits" answering questions about how the 2018 Nobel Prize for Economics could possibly have been awarded to two men who predicted that “damages are 2.1% of global income at 3°C warming and 8.5% of income at 6 °C warming” 🤪 #ClimateEmergency www.lse.ac.uk/granthaminst...
Martin Grimshaw Has Long Covid2And blindingly obvious, with vast numbers of us working and active globally in this arena, with a vast diversity of roles, and raising the alarm...for DECADES. 'Politicians baffled and surprised the thing everyone predicted FOR DECADES is now, in fact, actually happening.'
Graham Caswell1There's nothing sudden about Frank Elderson's climate or biodiversity concern. He's been hoeing a lonely row for decades.
"more work needed to assess risk from collapse of ecosystem services" Really? I think we all know the risks, as shown by a number of already published analyses Forget further assessment - we need action - by yesterday www.theguardian.com/business/202...
Janet 🇨🇦4“I did interviews [previously] saying, you know, if you destroy nature, you destroy the core on which our economies depend. And that got people’s attention. This is not some kind of a flower-power, tree-hugging exercise. This is core economics. This is core financial stability, core price stability”
Kelly Green3The esteemed Professor seems to have had enough of this BS. #weneedaction
