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Huge recent economic losses from climate impacts and a bipartisan 50-step plan for regulators

by Rachel Koning Beals, Market Watch


Highlights

A new report from Ceres examines the wide-ranging and compounding impacts of the climate crisis on U.S. financial markets.

  • Due to climate change, the United States has spent $1.7 trillion on over 265 extreme weather events since 1980 and has seen economic losses of more than $500 billion from 2015-2019
  • When planning the economic recovery from the COVID-19 pandemic the US must include climate-change responses from financial markets and their regulators
  • Climate change will take a 5%-20% loss of GDP if left unmitigated
  • U.S. financial regulators are far behind  China, Europe, the U.K., South America, and Canada in responding to climate change as a systemic risk and taking steps to protect their markets
  • Advocates behind the report are emphasizing a market-driven regulatory restructure to get the US on par with other countries

Using new progressive financing mechanisms we can produce an additional $20+ billion per year specifically for climate action.


Read More: https://www.marketwatch.com/story/warning-of-green-swan-risks-climate-group-ceres-and-bipartisan-supporters-lay-out-50-step-plan-for-markets-and-regulators-2020-06-01