{"id":12864,"date":"2015-10-01T08:13:39","date_gmt":"2015-10-01T13:13:39","guid":{"rendered":"http:\/\/olduvai.ca\/?p=12864"},"modified":"2015-10-01T08:13:39","modified_gmt":"2015-10-01T13:13:39","slug":"mark-carney-wants-business-to-calculate-the-fossil-fuel-future-don-pittis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=12864","title":{"rendered":"Mark Carney wants business to calculate the fossil fuel future: Don Pittis"},"content":{"rendered":"
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Mark Carney wants business to calculate the fossil fuel future: Don Pittis<\/a><\/h3>\n<\/div>\n

Bank of England governor’s climate change warning puts the focus on the bottom line<\/strong><\/p>\n

No doubt Bank of England governor Mark Carney\u00a0has personal views on whether or not\u00a0climate change is a danger to his children’s future. Most thoughtful people do.<\/p>\n

But when the former Bank of Canada governor\u00a0spoke to a high-powered audience of insurance executives this week, unlike environmentalists such as\u00a0Leonardo DiCaprio,\u00a0he didn’t emphasize\u00a0their moral obligation\u00a0to future generations. Perhaps after the\u00a0VW scandal<\/a>, he realized there was a more direct way to a businessperson’s heart.<\/p>\n

He appealed to their bottom line.<\/p>\n

“Changes in policy, technology and physical risks could prompt a reassessment of the value of a large range of assets as costs and opportunities become apparent,” he told the group.<\/p>\n

“Longer-term risks could have severe impacts on you and your policyholders.”<\/p>\n