Kermit’s Bankers

HONG KONG – Sesame Street’s Kermit the Frog once lamented that “it’s not easy bein’ green.” Today, this sentiment is surprisingly relevant to the global economy – only it is becoming green that is the problem.

Last September, the Intergovernmental Panel for Climate Change warned that if the world sticks with “business as usual,” global temperatures may rise more than 4°C – far beyond the 2°C increase that has been deemed “safe.” This prompted UN Secretary-General Ban Ki-moon to challenge political, economic, and financial leaders in January to intensify their efforts to achieve a new global agreement on climate change by 2015.