Tuesday, September 29, 2015

BBC — News Bank of England's Carney warns of climate change risk

The Bank of England governor has given a stark warning that climate change poses a huge risk to global stability.
At a gathering of leading insurers at Lloyd's of London, Mark Carney pointed out the rapid increase in weather-related catastrophes and the jump in both the physical and financial costs.
He said the challenges currently posed by climate change "pale in significance compared with what might come".
He said this generation had little incentive to avert future problems.
He avoided spelling out what was causing this apparent change, but said evidence was mounting of man's role in climate change.…
Currency irresponsibility may lead to financial instability in the future.
"The far-sighted amongst you are anticipating broader global impacts on property, migration and political stability, as well as food and water security."
But he said because the cost would fall on future generations there was little impetus on the current one to fix it: "In other words, once climate change becomes a defining issue for financial stability, it may already be too late."
And social, political and economic stability as well.

For example, while not related directly to solely to climate change, Europe was unprepared for the influx of refugees from MENA.

4 comments:

Bob said...

Europe is unprepared for many things. A precautionary approach would've been to help neighbouring countries deal with the refugee influx. They decided to save their money, and are now paying dearly for that mistake.

Ryan Harris said...

The politics are goofy. Because the models predicted we should be having massive flooding and catastrophe by now, the politicians think the model projections are real measurements when they are not. The predictions of increased frequency and severity of storms turned out to be false. There isn't enough data, but there may be fewer storms rather than more. The politicians continue to warn though. Political activism unaffected by reality.

This is as good and honest summary as I've seen:
http://judithcurry.com/2015/08/30/hurricanes-and-global-warming-10-years-post-katrina/

It is just the data collected and analysis of the data without models and projections.

The problem is that democrats and progressives in particular have made this into a signature issue, they can't admit they were wrong, so they go on pretending that their models were correct and keep showing these projections that predict imminent catastrophe. Really scary and frustrating because they are very serious about making policy to solve a problem that doesn't exist and the solutions are not only costly, but they are somewhat disruptive, they require people to move and relocate, they require enormous expenditures for building that is un-needed and could better be used on productive endeavors.

Unfortunate, I think Trump is the only option in the US because Bernie is a progressive and they are too detached from reality, ideological and dangerous to vote for because they live in an impenetrable fortress of ideology that can not be swayed by conflicting data.

Ignacio said...

Ryan what are you talking about, no one is doing anything about a theoretical impeding climate disaster.

This is one of the outcries you often heard, that it's impossible to do anything. Instead you see embracing of 'doomsday philosophy', with scary movies and information overflow. But does people change behavior? Not really, the same old habits are there.

And politicians are "running out of money", therein not doing anything. Have you been scared by the doomsday mass media embracing? It does not matter, if we are doomed, we are doomed, nothing will be done, people never changes habits until they are forced to by the environment (like any other animal). Some models are wrong, some others are right, but it doesn't matter.

Laziness and comfortability are to built upon our animal instincts to act upon anything.

Personally i have given up on this issue because what I exposed above, is usually a waste of time to discuss anything because you got ideologues on both sides of the fence and anyway a perennial optimist majority (like Ryan above) vs. a perennial doomsday minority (part of the scientific community, ecologists, some politicians).

Waste of time.

Bob said...

"Trump is the only option"

An entire planet teeming with life, awash in energy and inter-dependent processes, and it all boils down to this. LOL