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Juan C. García

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The Green Swan
« on: February 11, 2020, 10:13:08 AM »
This could become an important global financial approach, so let's make a thread with the subject.

What do you think?

Quote
The green swan 
Central banking and financial stability  in the age of climate change
Patrick BOLTON - Morgan DESPRES - Luiz Awazu PEREIRA DA SILVA Frédéric SAMAMA - Romain SVARTZMAN
January 2020

Abstract

Climate change poses new challenges to central banks, regulators and supervisors. This book reviews ways of addressing these new risks within central banks’ financial stability mandate.
However, integrating climate-related risk analysis into financial stability monitoring is particularly challenging because of the radical uncertainty associated with a physical, social and economic phenomenon that is constantly changing and involves complex dynamics and chain reactions. Traditional backward-looking risk assessments and existing climate-economic models cannot anticipate accurately enough the form that climate-related risks will take. These include what we call “green swan” risks: potentially extremely financially disruptive events that could be behind the next systemic financial crisis. Central banks have a role to play in avoiding such an outcome, including by seeking to improve their understanding of climaterelated risks through the development of forward-looking scenario-based analysis. But central banks alone cannot mitigate climate change. This complex collective action problem requires coordinating actions among many players including governments, the private sector, civil society and the international community. Central banks can therefore have an additional role to play in helping coordinate the measures to fight climate change. Those include climate mitigation policies such as carbon pricing, the integration of sustainability into financial practices and accounting frameworks, the search for appropriate policy mixes, and the development of new financial mechanisms at the international level. All these actions will be complex to coordinate and could have significant redistributive consequences that should be adequately handled, yet they are essential to preserve long-term financial (and price) stability in the age of climate change.
https://www.bis.org/publ/othp31.pdf

« Last Edit: February 11, 2020, 02:38:47 PM by Juan C. García »
Which is the best answer to Sep-2012 ASI lost (compared to 1979-2000)?
50% [NSIDC Extent] or
73% [PIOMAS Volume]

Volume is harder to measure than extent, but 3-dimensional space is real, 2D's hide ~50% thickness gone.
-> IPCC/NSIDC trends [based on extent] underestimate the real speed of ASI lost.

blumenkraft

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Re: The green swan
« Reply #1 on: February 11, 2020, 10:22:34 AM »
This is all i'm going to say about this:

There is a Plan ₿ !!  :)