Coherent Identifier About this item: 20.500.12592/q8znqd

DEGREES OF RISK - Can the banking system survive climate warming of 3̊ C?

11 August 2021

Summary

If is a simulation, based on modelling, of the impacts of the scenario analysis cannot capture the full range of plausible adverse scenarios on the resilience of financial likely effects deriving from the shock, or anticipate the institutions. [...] 12 DEGREES OF RISK Acceptable levels of risk Often blind eyes were turned, either because of a lack of will to Based on the work of the IPCC, climate policy-making believe the signs, or an active preference to deny and then not institutions such as the Conference of the Parties (COP) to engage. [...] The specific profile of these events will vary, but very high intensity will The lower reaches of the agriculturally-important river deltas be the norm… We could see class warfare as the wealthiest such as the Mekong, Ganges and Nile will be inundated, and members of every society pull away from the rest of the significant sectors of some of the world’s most populous cities population, undermining. [...] The risks of climate Looking at the evidence already presented, the following change to human interests will depend not only on the direct features are significant in assessing the economic impacts impacts of changes in the physical climate, but also on the at 3°C: response of complex human systems such as the global • By 3°C, the physical system will likely conform to the economy, supply chains,. [...] However growth and development, exacerbate poverty and the failure to account for some likely physical changes in the destabilise communities; climate system, the inherent incapacity to deal with damages • “Economic assessments fail to take account of the potential beyond quantification, and the inadequate weighting of the for large concurrent impacts across the world that would benefits of mitiga.

Pages
32