$69 Trillion Price Tag by 2100, Moody's Warns Central Banks of Far-Reaching Economic Damage

[boutons_deux]

"There is no denying it:

The longer we wait to take bold action to curb emissions,

the higher the costs will be for all of us."

this is "the first stab at trying to quantify what the macroeconomic consequences might be" of the global climate crisis, and

it comes in response to European commercial banks and central banks.

The climate emergency is "not a cliff event.

It's not a shock to the economy.

It's more like a corrosive," Zandi added.

But it is "getting weightier with each passing year."

if the average global temperature soars to 1.5°C above pre-industrial levels—the lower limit of the Paris climate agreement (https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement)—the cost to the global economy is estimated to be $54 trillion in 2100, and

under a warming scenario of 2°C, the cost could reach $69 trillion.

https://www.commondreams.org/news/2019/07/03/citing-69-trillion-price-tag-2100-moodys-warns-central-banks-far-reaching-economic?cd-origin=rss&utm_term=AO&utm_campaign=Weekly%20Newsletter&utm_content=email&utm_source=Weekly%20Newsletter&utm_medium=Email

[koriwhat]

2100! lol

[boutons_deux]

Doubling Down:

The Military, Big Bankers and Big Oil Are Not In Climate Denial,

They Are in Control and Plan to Keep It That Way.

“Capitalism, militarism and imperialism are disastrously intertwined with the fossil fuel economy….

A globalized economy predicated on growth at any social or environmental costs,

carbon dependent international trade,

the limitless extraction of natural resources, and

a view of citizens as nothing more than consumers cannot be the basis…for tackling climate change….

Little wonder then that the elites have nothing to offer beyond continued militarisation and trust in techno-fixes.”

The ruling class may be an utter failure but that is not stopping them taking aggressive action on climate change. Their chief concern:

maintaining power, control and profits at all costs.

imagine a more extreme version of the world that already exists: where healthcare is rationed;

where wealth inequality strangles democracy;

where austerity is a weapon of class warfare;

where millions die prematurely from toxins in air and water;

where war and incarceration is the solution of choice;

where people are rounded up in concentration camps;

where corporations rule unchallenged;

where extreme weather wrecks havoc in an expanding circle of misery.

The only new thing about their solution is the stench of fascism that grows ever stronger and more odious.

The Republicans know full well that

their partners in crime — oil companies, bankers and the military brass have known about climate change for decades (https://www.desmogblog.com/2019/03/19/us-government-knew-climate-risks-1970s-national-petroleum-council?fbclid=IwAR2DFN3-ESA1HVSxWhFWvBQ35S8VWXV1UVlkqD8QrKZ1KBFMGBr0RmmICr A).

Green New Deal, despite its weaknesses, must be marginalized (http://befreedom.co/2019/06/14/the-climate-counter-offensive-secrecy-deception-and-disarming-the-green-new-deal/) since it competes with the establishment’s plans for our future.

the military plans to maintain its ambition for “full spectrum dominance (https://www.counterpunch.org/2019/03/20/countdown-to-full-spectrum-dominance/).”

A 2014 report from the Department of Defense (https://dod.defense.gov/News/Article/Article/603440/) ... knows how to unite big oil, big banks and big guns.

it has now been proven beyond doubt (https://watson.brown.edu/costsofwar/files/cow/imce/papers/2019/Summary_Pentagon%20Fuel%20Use%2C%20Climate%20Chang e%2C%20and%20the%20Costs%20of%20War.pdf) that

the military is the world’s largest consumer of fossil fuels and largest polluter.

War will continue, climate crisis be damned.

https://www.counterpunch.org/2019/07/05/doubling-down-the-military-big-bankers-and-big-oil-are-not-in-climate-denial-they-are-in-control-and-plan-to-keep-it-that-way/ (https://www.counterpunch.org/2019/07/05/doubling-down-the-military-big-bankers-and-big-oil-are-not-in-climate-denial-they-are-in-control-and-plan-to-keep-it-that-way/)