UK banks and insurers to be tested on climate crisis response plans

19. Dezember 2019 Ausgabe 1 (2020), Newsletter

Bank of England to force firms to say how they would respond to temperature rise of up to 4°C.
Drastic environmental changes around the world would damage property, infrastructure and farmland, disrupt business supply chains, and lead to mass migration and deaths, the Bank said.
According to a study by Solomon Hsiang and Edward Miguel of University of California, Berkeley, and Marshall Burke of Stanford University, unmitigated global warming would lead to a 23% loss in per capita earning globally by the end of the century.
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