Feeling stressed? Bank of England warns climate risks to become 'persistent drag' on profitability

A top HSBC executive may have downplayed the threat posed by climate risks, but the Bank of England’s new stress test exercise suggests financial firms’ profits would be hit The timing may be entirely coincidental, but it makes it hard not to interpret it as a direct riposte. Just days after HSBC Asset Management’s head … Read more

'Inaction is a far costlier choice': How 3C of climate warming could cost global economy $178tr

While unchecked global warming could knock 7.6 per cent off GDP, net zero could boost global GDP by 3.8 per cent, according to Deloitte Climate change could cost the global economy $178tr over the next 50 years if left unchecked, amounting to a 7.6 per cent cut in GDP in the year 2070 alone, according … Read more