THE governor of the Bank of England has warned that companies that fail to prepare for climate change “will go bankrupt without question”. Mark Carney also said the UK’s central bank has been asked by the UK Government to “stress test” the economy for its preparedness for climate change. Carney told Channel 4 News: “The government have said to us one of your responsibilities when you look at the stability of the financial system is to look at the risk from climate change. “Because of the climate change risk, because of the speed of adjustment, we are going to stress test the UK financial system to see how ready it is for climate change.” Carney said the Bank of England’s “job is to make sure the financial system can be there and provide the funds for whatever path the country chooses to take”. He added: “The country is moving to net zero carbon by 2050.
The National 1st Aug 2019 read more »
Capitalism holds the key to overcoming the challenges of climate change, the Governor of the Bank of England, Mark Carney, has said. He told an audience at Coutts Bank in central London, which included Sir David Attenborough, that trillions of pounds can be made for companies that provide solutions to the climate threat. He dismissed claims by some activists, such as Extinction Rebellion, who have argued that economic growth is at odds with environmental protection. However he issued a stark message to companies and financial institutions which fail to adapt, warning that they “will go bankrupt without question”.
iNews 31st July 2019 read more »
Guardian 31st July 2019 read more »
Heatwaves naturally occur in summer, but they did not used to be so hot, or so frequent. Experts say that the UK’s sweltering weather last summer was made 30 times more likely by global heating. That link has sunk in: in a new survey, 77% believed the recent heatwave was partially or wholly caused by the climate crisis. As temperatures reach unprecedented levels, so does public concern about the environment. Yet while global heating is just that, its impact varies even within countries. Most people surveyed in July considered the weather too hot. But, while 73% of people in the east of England judged it too hot, in chillier Scotland only 47% of people agreed – and a slightly larger proportion thought it just right or not warm enough. Some may look forward to warmer staycations and the chance to grow grapes in their back garden. For many people, even a small rise in temperatures will be catastrophic. A new report from Monash University in Melbourne warns that the climate crisis is already causing deaths; one of its authors said almost 400 people died from heat stress and heatstroke during fires in Victoria 10 years ago. It predicts climate-related stunting, malnutrition and lower IQ in children within the coming decades; a 2018 report from the World Health Organisation predicted that an additional 250,000 deaths a year will occur between 2030 and 2050 due to global heating. Some places will experience more severe temperature shifts or will find it harder to adapt than others, often through lack of resources. Poorer countries, which broadly speaking are the least to blame for the climate crisis – emitting less carbon dioxide per capita – will suffer most. A hurricane or wildfire is deadlier when there is little capacity to prepare for it or to speed recovery. Families that spend most of their income on food struggle to eat when crops suffer.
Guardian 31st July 2019 read more »
Greenland is experiencing “extreme” temperatures as the record-setting heatwave that blasted Europe last week hovers over the region. Up to half the surface of the island’s ice sheet is thought to be currently melting, with runoff equivalent to a 0.5mm rise in global sea levels in July alone. It comes less than a week after Britain saw its hottest-ever day, with a high of 38.7C recorded at Cambridge botanic garden last Thursday. Germany, Belgium and the Netherlands also experienced record-high temperatures due to a plume of air from north Africa. Greenland has seen abnormally high temperatures so far this summer, scientists have told The Independent, with melting expected to rival the record levels seen in 2012.
Independent 1st Aug 2019 read more »
Siberian wildfires prompt Russia to declare state of emergency. Russia has declared a state of emergency in four Siberian regions and dispatched the military to help in firefighting efforts after wildfires engulfed an area of forest the size of Belgium amid record high temperatures.
FT 31st July 2019 read more »