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JP Morgan economists warn of climate crisis threatening human species
published: 22/02/20, 22:51
by izentrop
The momentary drop in activity in China benefits us by lower oil prices at the pump and a significant drop in CO2 emissions, but make no mistake, the delay will quickly be caught up and overcome.
Even the world's largest fossil fuel financier shows pessimism in a client report
Climate change and taking the environment into account becomes a recurring theme in economic analyzes, as the consequences of human activity on the climate and biodiversity become more and more evident.
This was again the case in a note sent by bank JP Morgan to its customers yesterday, in which it believes that if no action is taken, there could be "catastrophic results" in the face of climate change.
The bank said that
the research on which it is based came from a team "totally independent of the company as a whole".While JP Morgan economists had warned in the past about the unpredictability of climate change, the language used in this new report was much sharper.
“We cannot rule out catastrophic results when human life as we know it is threatened,” JP Morgan economists David Mackie and Jessica Murray said.
Carbon emissions in the coming decades "will continue to affect the climate for centuries in a way that is likely to be irreversible," they said., adding that action against climate change should be motivated "by the probability of extreme events".
Climate change could affect economic growth, stocks, health and the lifespan of people, they said.
These changes could in particular exert pressure on the availability of water, cause famines and lead to the displacement or migration of populations. Climate change could also cause political tension, conflict, and could damage biodiversity and the survival of species, the report warns.
To mitigate climate change, net carbon emissions must be reduced to zero by 2050 according to the bank. However, to achieve this, it would be necessary to introduce a global carbon tax, according to the authors of the report, adding that "it will not happen anytime soon".
Developed countries fear that reducing emissions will affect competitiveness and employment, while less developed countries "see carbon-intensive activities as a means of improving living standards"."It's a global problem, but no global solution is in sight," the report concludes.
http://fr.investing.com/news/economy/jp ... ue-1939451
That didn't stop them from ...
The world's largest investment banks have provided more than $ 700 billion in funding to the most actively developing fossil fuel companies in new coal, oil and gas projects since the Paris Accord climate change, by the numbers.
The funding was led by Wall Street giant JPMorgan Chase, which provided $ 75 billion (£ 61 billion) to companies developing in sectors such as hydraulic fracturing and oil and gas exploration in the Arctic, according to analysis.
https://www.theguardian.com/environment ... ssil-fuels
Photo of the Jonah Field gas fields in Wyoming, United States.
Re: JP Morgan economists warn of climate crisis threatening human race
published: 23/02/20, 10:25
by dede2002
I guess you meant the human species?
Which is the only species that can adapt quickly to change, while accelerating change.
This is not the case for other living species ...
Re: JP Morgan economists warn of climate crisis threatening human species
published: 23/02/20, 10:35
by izentrop
dede2002 wrote:I guess you meant the human species?
Yes, translation error, for the rest it is discussed ... bacteria adapt more quickly. Are you talking about artificial adaptation?
Re: JP Morgan economists warn of climate crisis threatening human race
published: 23/02/20, 14:51
by Paul72
In fact it is mainly human societies that are vulnerable, the species in itself is not at all in danger in the face of global warming. We know how to adapt to almost all climatic and environmental conditions as long as there is life to feed.
On the other hand, coastal mega-cities that end up in the water or in permanent overheating, without running AND healthy water, without continuous food supply, without continuous energy for infrastructure needs, that indeed means serious potential problems to come for the most important urban societies.
very significant warming (4 or 5 degrees more for example), that means a part of the world that will no longer be habitable for large populations but only for small communities. Question: Where will those forced to leave be able to migrate? this is going to be one of the great questions and challenges of this century, and there are sacred challenges ... The one of limiting emissions is almost lost, already. We can still save the furniture for the preservation and restoration of environments, soils, biodiversity, water, reduction of pollution but the longer we delay and the harder and more expensive, the warmer and more It becomes difficult to fight against desertification and the erosion of living things.
Re: JP Morgan economists warn of climate crisis threatening human species
published: 23/02/20, 15:00
by Christophe
Or how to return your jacket?
Now that these same economists are at the wall, they try to have the beautiful role when it is the application of their doctrine of infinite growth which has generated the current situation!
Bezos won 3,5 Billion last week ... It is this kind of thing which is unimaginable humanly but which makes so much b * nder these same analysts!
Re: JP Morgan economists warn of climate crisis threatening human species
published: 23/02/20, 18:24
by Ahmed
Your "where" has an accent too much ...
I do not think of a change in behavior on their part, simply it is for them to take advantage of new growth opportunities resulting from a significant change in public opinion on environmental issues. Simple opportunistic strategy, so ...
Re: JP Morgan economists warn of climate crisis threatening human species
published: 23/02/20, 18:36
by Exnihiloest
Ahmed wrote:Your "where" has an accent too much ...
I do not think of a change in behavior on their part, simply it is for them to take advantage of new growth opportunities resulting from a significant change in public opinion on environmental issues. Simple opportunistic strategy, so ...
Not opportunists but instigators for twenty years, theories of global warming as anthropogenic as catastrophic.
Believers in anthropogenic warming do not seem to realize from near or far how they are rolled in flour.
How two American billionaires managed to corrupt climate science
Re: JP Morgan economists warn of climate crisis threatening human species
published: 23/02/20, 19:59
by Ahmed
Some are indeed instigators, others only opportunists and I preferred this formula in the ignorance of who does exactly what. This strategy is based on the need to find other outlets for new products, since the profitability of the old ones decreases and the quantity to be sold increases mechanically due to the increasing productivity. It is therefore imperative to divert public opinion towards a phenomenon that is simple (at least in appearance) and unique (without regard to a global consideration of the real changes to be made) and to bring it an economically profitable remedy. It is about taking advantage of the negative consequences resulting from the economy to establish new bases of "prosperity" ... economic !; to put it another way, it's about increasing the causes to decrease the consequences ...
Re: JP Morgan economists warn of climate crisis threatening human species
published: 23/02/20, 20:08
by GuyGadebois
Remind me how much the polluting companies spend to minimize their responsibility in lobbying, marketing, corruption, blackmail, murders of icons of the ecology, defamations, slanders, brown law firms, lawsuits?
Re: JP Morgan economists warn of climate crisis threatening human species
published: 23/02/20, 20:31
by izentrop
According to your "climate-realistic" friends, not according to science.