Bank of England Boss Says Global Finance is Funding 4C Temperature rise

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Bank of England Boss Says Global Finance is Funding 4C Temperature rise

Bank of England Boss Says Global Finance is Funding 4C Temperature rise
    Bank of England boss says global finance is funding 4C temperature rise
    The Governor of the Bank of England has warned that the global financial system is supporting carbon projects that would increase the planet's temperature by more than 4 ° C - more than double the promise of limiting increases well below 2 ° C in accordance with Paris Agreement.
    World leaders agreed in the Paris climate agreement to keep temperatures well below 2 ° C above pre-industrial levels during this century and to continue their efforts to limit the rise to 1.5 ° C.

    Mark Carney has issued an ominous warning about global warming: millions of dollars invested in international capital markets - in which companies raise money by selling stocks and bonds to investors.
    But, sadly illustrating the magnitude of the global economy's challenge of reducing carbon emissions, Carney suggested that companies had already secured investor funds in global capital markets - worth 85 billions of dollars (67.2 billion pounds) for stocks and 100 billion for bonds - this will keep the world on a path consistent with catastrophic global warming.
    stelly-business -Bank of England boss says global finance is funding 4C temperature rise
    Risks associated with temperatures equal to or greater than 4 ° C include a sea-level rise of 9 meters - affecting 760 million people - heat waves and droughts, severe feeding problems and half of all animal species and plants that are locally extinct.
    Speaking to members of the Treasury Committee of the House of Commons, Carney did not set a timetable for rising temperatures but said: "The goals are there, but the policy is not yet consistent with stabilization of temperatures below 2 ° C.
    Bank of England boss says global finance is funding 4C temperature rise
    Carney sounded the alarm last week after the Guardian and revealed the top 20 companies behind a third of CO2 emissions. The governor of the bank said the financial system was becoming aware of the risks of global warming.
    He added that some investment companies had analyzed carbon assets in their portfolios, including the $ 1.6 billion Japanese Pension Investment Fund (GPIF).

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