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

The governor of the Bank of England has issued a warning to companies which are failing to move towards zero-carbon emissions that they will be punished by investors. Mark Carney told The Guardian that the global transition necessary to solve the climate crisis could lead to an abrupt financial breakdown. He added that the more time it took for action to reverse emissions to be implemented, the greater the risk of collapse. Welcome to The Atlantis Report . Firms ignoring climate crisis will go bankrupt, says Mark Carney . Bank of England governor warns of financial collapse linked to climate emergency . The coming "financial collapse" will likely be due to climate change warns Bank of England governor . ◆ Marc Carney warns of an "abrupt" financial collapse due to climate emergency and warns that companies that ignore climate crisis will go bankrupt . ◆ Fighting climate change will drive up interest rates and we must avoid a "climate-driven ‘Minsky moment’ involving a sudden collapse in asset prices” warns Carney . ◆ Carney realises that he and his central bank colleagues in the Fed and the ECB have created the real risk of financial collapse and contagion by creating a massive debt driven global asset bubble and is seeking to distract and deflect by blaming climate change . ◆ Carney and the Bank of England have got us into this debt driven financial mess through negative interest rates and currency printing on a scale never seen before in history; not climate change Mr Carney has spearheaded attempts to address the dangers global heating poses to the financial sector, which range from more frequent extreme weather disasters to a possible decline in asset values, such as fossil fuel company valuations, as government regulations bite. Last week it was uncovered that just 20 fossil fuel companies have produced coal, oil and gas connected to more than a third of all emissions in the modern era. Adapt or go bust . The Bank of England claimed up to £16tn of assets could be wiped out if the climate emergency is not addressed sufficiently. Mr Carney also said those working to end greenhouse gas emissions could earn great fortunes and boost the UK economy. He continued that it was vital companies disclose the business risks posed by climate change, to enable investors to back those transitioning to a carbon-free future. Mr Carney said: "There will be industries, sectors and firms that do very well during this process because they will be part of the solution. But there will also be ones that lag behind and they will be punished." It comes after he said in July that "companies that don’t adapt will go bankrupt without question". Zero carbon emissions . US coal companies had already lost 90 per cent of their value and banks are also at risk. Mr Carney said the move to net zero carbon emissions would alter the value of every asset, increasing the risk of shocks to the financial system. “Some assets will go up, many will go down. The question is whether the transition is smooth or is it something that is delayed and then happens very abruptly. That is an open question. The longer the adjustment is delayed in the real economy, the greater the risk that there is a sharp adjustment.” Without a planet, there's no financial system . As opposed to damaging the global economy, climate action bolsters economic growth, according to Mr Carney. He added: “There is a need for [action] to achieve net zero emissions, but actually it comes at a time when there is a need for a big increase in investment globally to accelerate the pace of global growth, to help get global interest rates up, to get us out of this low-growth, low-interest-rate trap we are in.” Mr Carney told big corporations on Tuesday they had two years to agree rules for reporting climate risks before global regulators devised their own and made them compulsory. In response to revelations about fossil fuel companies, Labour leader Jeremy Corbyn said: "Labour will delist companies that fail to meet environmental criteria from the [London Stock Exchange], and reform the finance sector to make it part of the solution to climate change instead of lending to companies that are part of the problem.” Blowing smoke to preserve the climate-con game. A diversion from the real cause/people behind the collapse they know is coming. If there's a collapse it will have a lot more to do with the criminality, fraud, corruption, theft and usury from the banker and political class than a change in faked temperature readings.









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