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Financial impacts of climate change likely to hit global markets directly

fin-crisis

Whilst previous warnings about climate change have stemmed from the need for businesses to adapt and become more resilient to its effects, a former senior Bank of England official warns that the financial impacts of climate change may hit global markets directly. Businesses are advised to rethink their climate change risk exposure.

Following the sterling’s fall after the announcement of a timetable for Brexit this month, the former deputy head of the U.K.’s Prudential Regulation Authority, Paul Fisher, warned in an interview with Bloomberg that climate change could be the trigger for the next financial crisis.

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