Menu
— 10 October 2023 —

The tragedy on the financial horizon is closer than you think

Economy

In September 2015, then Bank of England Governor Mark Carney gave a landmark speech on the “Tragedy of the Horizon.” The concept was simple: climate change creates tremendous risk for financial markets, but these mounting risks are ignored by investors due to the market’s tendency towards myopia. The speech marked a significant turning point in finance: the starting gun in the race to internalize climate-related financial risks.

Ilmi Granoff

Read the full article by Ilmi Granoff on the Climate Law blog

More articles

Aug 22 2024

Chartbook 310 The shock of the new: Dollar dominance and modern monetary macro in the 1920s. (Hegemony note 5)

by Adam Tooze in Chartbook…The denaturing of the gold standard and the emergence of the new field of monetary macroeconomics combined to pose the question of...
Aug 10 2024

The ‘perfect storm’ of climate risks that is sinking your net worth

by Andrew Behar in Impactalpha…If we don’t all wake up – as a nation – to climate risk, homeowners will soon literally and financially be underwater.

Aug 01 2024

Food as you know it is about to change

by David Wallace-Wells in The New York Times…It can be tempting, in an age of apocalyptic imagination, to picture the most dire future climate scenarios: not just...
Aug 01 2024

Why shifting from prediction to foresight can help us plan for future disruption

by Roger Spitz in World Economic Forum…As the world becomes more complex, foresight methodologies account for a greater set of possible futures. Scenario...
Jul 25 2024

Paraphilanthropy: Giving money its freedom papers

by Bayo Akomolafe….What addressing philanthropy’s colonial legacies asks of this moment.

Jul 25 2024

The status of U.S. oil production: 2024 update everything shines by dimming

by Roger Blanchard in Resilience.org…The fact that U.S. oil production reached a very high level in 2023 and that so much of the production came from Texas made...
Jul 25 2024

A big solar company may be collapsing

by Alana Semuels in Time….One of the largest residential solar installers in the U.S. appears to be on the cusp of failing, the latest sign of the troubled...
Jul 13 2024

Is there a future in the doomsday economy?

by Alexander Nazaryan in The New York Times….With Fortitude Ranch, the entrepreneur Drew Miller is betting on franchised timeshares for people who are worried...
Jul 08 2024

The status of U.S. oil production: 2024 update everything shines by dimming

by Roger Blanchard in Resilience.org…To maximize profitability of deep water fields, the industry cranks up production rapidly to a high production level, say...
Jun 10 2024

Shrink the economy, save the world?

by Jennifer Szalai in The New York Times….Economic growth has been ecologically costly — and so a movement in favor of ‘degrowth’ is growing.