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23.11 - 19:47
How Climate Change Might Heat Up Inflation Too
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Osman Ouattara, Reader in Development Economics, University of Manchester.____
Ahead of a day of talks on climate finance at the COP26 climate change summit in Glasgow, the former Bank of England governor Mark Carney announced the launch of a coalition of financial companies committed to hitting net zero by 2050. The Glasgow Financial Alliance for Net Zero says it is made up of more than 450 different banks, asset managers, and insurers and represents up to USD 150trn in assets.
It is notable that this coalition of private sector firms is headed by Carney, a former senior central banker, as in recent years researchers, activists, and others have called for central banks to do more to fight climate change. And though central bankers have
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