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ECB official warns climate crisis poses growing threat to ‘core financial stability’

“Ecosystem services are defined as any benefit that can be drawn from a natural structure or process – for example, water can be used as a raw material, an energy source through hydropower, or for transportation. It is also a habitat for marine life critical for food production, and a basis for recreational services.

“Nature-related risks can pose material economic and financial risks, including through their impacts on credit risk, growth, inflation and – over the long-term – potential financial instability,” Elderson said.

“I did interviews [previously] saying, you know, if you destroy nature, you destroy the core on which our economies depend. And that got people’s attention. This is not some kind of a flower-power, tree-hugging exercise. This is core economics. This is core financial stability, core price stability.” ⚖️

theguardian.com
u/IndicationNo7941 — 2 months ago
▲ 320 r/vancouver+1 crossposts

World Cup FTW! 🙌

Well, it was a fun tournament and great entertainment. Especially to have games played in Vancouver and Canada for the first time. ⚽️ Congratulations to the winners, Spain! 👏

u/IndicationNo7941 — 3 months ago