There’s a lot of money to made on climate change. From Tyler Durden at zerohedge.com:
We now live in a world, where bizarro headlines such as the ones below, have become a daily if not hourly occurrence:
- *TREASURY TO STUDY IMPACT OF CLIMATE ON HOUSEHOLDS, COMMUNITIES
- *TREASURY LAUNCHES EFFORT ON CLIMATE-RELATED FINANCIAL RISKS
- *BRAINARD: CLIMATE-SCENARIO ANALYSIS WILL HELP IDENTIFY RISKS
- *BRAINARD: CLIMATE CHANGE COULD HAVE PROFOUND ECONOMIC EFFECTS
- *MESTER: FED LOOKS AT CLIMATE CHANGE FROM VIEW OF RISKS TO BANKS
- *FED IS TAKING THE RIGHT COURSE ON MONITORING CLIMATE CHANGE
- *FED SHOULD CONSIDER CLIMATE-CHANGE RISK TO FINANCIAL SYSTEM
Now, in case someone is still confused, none of these institutions, and not a single of the erudite officials running them, give a rat’s ass about the climate, about climate change risks, or about the fate of future generations of Americans (and certainly not about the rising water level sweeping away their massive waterfront mansions): if they did, total US debt and underfunded liabilities wouldn’t be just shy of $160 trillion.
So what is going on, and why is it that virtually every topic these days has to do with climate change, “net zero”, green energy and ESG?
The reason – as one would correctly suspect – is money. Some $150 trillion of it.