Climate Change Could Blow Up the Economy. Banks Aren’t Ready. – The New York Times
Article Synopsis – A new report from “an umbrella organization for the world’s central banks” has warned that climate change could cause the next economic disaster and the banks are not prepared. In what could be one of the biggest economic dislocations of all time, “global gross domestic product could plunge by nearly a quarter by the end of the century”. Central banks “would not be powerful enough to combat an economic downturn of that scale”. To read the actual article click here.