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14.- 14.- "Finances and the Environment" HOT

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Authors: Ángel Berges, Emilio Ontiveros y Ricardo Pedraz

Date Posted: april 2019

Tipo de archivo: pdf

El Policy Brief number 14 of europeG: "Climate change imposes a cost on future generations that the current generation has no direct incentive to fix, giving shape to what Mark Carney, President of the Financial Stability Board (FSB) and Governor of the Bank of England, has called the “Tragedy of the Horizon”. To address this paradox, and above all to engender the necessary incentives, what better course of action than to have the financial markets put a price on the objectives and commitments agreed to at the Paris Summit? However, to reach this point, providing greater information transparency has first to be achieved. And there are, unquestionably, major information deficiencies in the case of climate-related financial risks."