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Climate change and financial crises: Soft measures will not shield us from the ultimate rainy day. We need hard rules

Understanding Finance / Cartoons & Explainers

Financial institutions contribute to accelerating climate change by financing greenhouse gas emitting activities. In turn, they themselves are impacted by the devastating consequences of climate-related events, as well as transition measures towards a more sustainable economy. In order to avoid a climate-related financial crisis, actions to address the risks that climate change poses to the financial system need to be taken without undue delays.

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