Wildfires have devastated my city. They’ll only get worse unless we force businesses to change (opinion)
CNNEditor’s Note: Bob Litterman is a founding partner at Kepos Capital, the former head of risk management at Goldman Sachs and chaired the CFTC subcommittee that produced the Managing Climate Risk in the U.S. Financial System report. But last week, I found hope in – of all places – a Commodity Futures Trading Commission subcommittee charged with studying the threat that climate change poses to our financial and economic system. Here are our recommendations: Congress must establish a price on carbon immediately Incentives matter, and the financial system cannot direct capital appropriately on its own to combat the effects of climate change. Transition risk is associated with the financial impact that could result from a rapid and disorderly transition to a net-zero emissions economy – like the coal miners who have found themselves jobless and without adequate retraining, or oil investors who may find themselves holding reserves they can no longer profitably develop.
History of this topic
Climate change boosts risk of explosive wildfire growth in California by 25%, study says
LA Times
Oregon wildfires case highlights the climate change risks to utilities
LA Times
A single, devastating California fire season wiped out years of efforts to cut emissions
LA Times
US wildfire dangers seen spreading east as climate risks grow
Al Jazeera
Wildfires are getting worse across the globe. How does California compare?
LA Times
Climate change is causing wildfires that are amplifying Covid
CNN
Why wildfires are everyone’s problem
The IndependentDiscover Related
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