Climate Change Could Blow Up The Economy: Banks Aren’t Ready

A report issued this week by an umbrella organization for the world’s central banks argued that Climate change could cause the next financial crisis, while warning that central bankers lack tools to deal with what it says could be one of the biggest economic dislocations of all time. Christine Lagarde, the European Central Bank’s president, who took office late last year, has pledged to put climate change on the bank’s agenda, and the issue will play an important role as the E.C.B. embarks on the first comprehensive review since 2003 of how it conducts monetary policy.

By Jack Ewing. New York Times. January 23, 2020.

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