This is not a turnaround, but still a significant change. Interviewed, on Saturday, October 13, during a lengthy interview with CBS, us president, Donald Trump, has said for the first time clearly that ” climate change is not a hoax “. It is, however, as well as, since 2012, he referred to this phenomenon. He had even, for a time, accused China of having it fabricated to destroy the competitiveness of american industry. Of course, he still refuses to admit the responsibility of human activities in climate change and ensures that it does not want to take thousands of billions of dollars and millions of american jobs in this fight is uncertain.
But here, too, it may well change your mind. In the same way that the proliferation of storms, droughts and other disasters have shaken his certainties, the pressure of the civil society and of the economy as a whole might well relent. Because the capitalist machine is being put in motion, including in his heart, and finance.
Monday, October 15, the Bank of England (BoE) should, according to the Financial Times, to publish a statement instructing the banks and insurance companies for which it provides oversight to appoint, from among its senior officers, in charge of assessing the long-term risks of their investment portfolios related to climate change.
The global economy threatened
For example, the commitments in companies strongly greenhouse gas emissions. For the central bank, climate risk is becoming “systemic” and therefore must be treated as such. An annual report shall be handed over to the authorities and will be published by the regulator. According to the BoE, only 10 % of the banks it oversees have a long-term view of their climate-related risks. Some of them have already announced a reduction of investment in coal…