Earth is overheating due to the greenhouse gas emissions from burning fossil fuels. This is 'the biggest market failure the world has seen' according to economist Nicholas Stern. The rational behavior of companies that pollute by making profitable commodities, and consequences of most people's desire to drive everywhere are creating irrational outcomes for everyone: an increase in the average global temperature which threatens to make the planet uninhabitable.
Debt servicing to rise almost everywhere
When interest rates rise for banks, businesses find it more expensive to fund their operations and so raise prices for consumers. Higher costs to banks also mean higher mortgage interest rates for residential borrowers. When banks invest savings such as pensions in bonds offered by countries hit by climate disasters, their worth is affected too, meaning that pensions may fall in value.has three key findings.
Under a high-emissions scenario in which recent emissions continue on an upwards trajectory, 59 countries would suffer downgrades of just under a notch by 2030, rising to 81 countries facing an average downgrade of two notches by 2100.
France Dernières Nouvelles, France Actualités
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