World headed to recession if climate change ignored, John Hewson warns. Former Australian Liberal leader John Hewson is an economist, not a climate modeler, so he probably has no idea how flimsy the case for the carbon dioxide theory of global warming actually is. He claims the markets are under-pricing the risk of climate change.

For those who suspect that the risk of global warming has been exaggerated and the world is not adequately allowing for the possibility that the theory is wrong, and that financial due diligence is required on the topic, there is now the Cool Futures Hedge Fund, almost ready for business. James Delingpole amusingly wrote about the Fund here, then (not holding back) here.