- The global financial markets are in a free fall.
- The U.S. fed cut interest rates to near zero, igniting a selling panic.
- Fear mounts as a leadership vacuum becomes apparent.
This is what happens during a global pandemic like coronavirus.
So it's not surprising that the finance industry has no idea how to handle existential threats like climate change.
The effort to put finance at the center of the climate conversation partly reflects a hope that the capital markets will be faster and more rational than political bodies, where efforts to arrest climate change have tended to struggle and languish.
But here's the elephant in the room: Are we trying to protect the climate with finance, or protect finance from a changing climate?
It’s a question that gets discussed surprisingly rarely considering how important climate change is becoming to finance and vice versa.
For the time being, leaders will rightly focus all resources and energy to avert the worse case scenario for coronavirus. But the climate crisis is lurking around the corner, waiting to release its fury on our kind.
Stay woke on carbon and climate. Go deep at carbon.substack.com
Join our VIP Carbon Tribe to receive our weekly newsletter!
Hi, I'm Walter, founder and editor of Carbon Creed: a blog and newsletter for people serious about tech and the low carbon economy.