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The Fallacy of Climate Financial Risk

forbes.kz

The Fallacy of Climate Financial Risk

The “Climate” means the probability distribution of the weather – the range of potential weather conditions and events, together with their associated probabilities. “Risk” means the unexpected, not changes that everyone knows are underway. And “systemic financial risk” means the possibility that the entire financial system will melt down, as nearly happened in 2008. It does not mean that someone somewhere might lose money because some asset price falls, though central bankers are swiftly enlarging their purview in that direction. FRANKFURT – After many years of low inflation, prices have risen almost eve... → In plain language, then, a “climate risk to the financial system” means a sudden,
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29 марта 2024