Bank of England Warns of an ‘Abrupt’ Financial Collapse Due To Climate Emergency

Bank of England Warns of an ‘Abrupt’ Financial Collapse Due To Climate Emergency, by Damian Carrington.

Companies and industries that are not moving towards zero-carbon emissions will be punished by investors and go bankrupt, the governor of the Bank of England has warned.

Mark Carney also told the Guardian it was possible that the global transition needed to tackle the climate crisis could result in an abrupt financial collapse. He said the longer action to reverse emissions was delayed, the more the risk of collapse would grow. …

The Bank of England has said up to $20tn (£16tn) of assets could be wiped out if the climate emergency is not addressed effectively. …

US coal companies had already lost 90% of their value, he noted, but banks were also at risk. “Just like in any other major structural change, those banks overexposed to the sunset sectors will suffer accordingly,” he told the Guardian.

Sure. Only if you and your mates wipe those companies out or prevent them selling their products. Was Carney making a threat? Or readying an excuse for the impending next stage of the debt crisis?

A reader comments:

The excuse the central bankers, who created the coming financial crisis in the West, will use is the Climate Emergency.

Oh, wait a minute, they invented the Climate Emergency too.

Now we know why they push the climate lies so hard. It’s their excuse.