The Financial Sector’s Climate Imperative
It is impossible to say when the next financial crisis will erupt, let alone how long it will last or how damaging it will be. But there is no doubt that the risks the world faces merit a more holistic approach – one that accounts for the serious and escalating threats posed by climate change.
PARIS – In the decade since the global financial crisis, mechanisms to boost the financial system’s resilience have been widely discussed. But while some progress has been made, the largely piecemeal approach that has been pursued may yet prove inadequate to support long-term financial stability. And a waning bull market means that the day of reckoning may not be far off.