Climate Change and Bush Fires…

Climate change gets the blame for deadly bush fires, dying coral reefs, surging sea levels, and increasingly calamitous storms. But setting off the next global financial crisis?

Yes, says the Bank for International Settlements, an umbrella organization for the world’s central banks.

Having scrambled the last decade to reassemble global financial systems, since the mega-meltdown of 2008, and looking ahead, the central banks see massive potential for instability.

Their book-length report acknowledges the next decade threatens to hit the global banking industry with disruptions from climate change and AI technology—both possibly inducing a historic economic dislocation.

Devamrita Swami