Business
Financial regulator APRA to stress-test banks on climate change, to examine what would happen in a 3-degrees-hotter world – ABC News
A key financial regulator is testing what would happen to Australia’s economy if climate change creates a ‘hot house world’ with temperatures 3-degrees higher than…
A key financial regulator is testing what would happen to Australia’s economy if climate change creates a ‘hot house world’ with temperatures more than 3 degrees higher than the Earth’s current average.
Key points:
- APRA will commission research to illustrate the financial risks of unchecked climate change
- The scenario maps more than 3 degrees of warming, but also the impact of ‘tipping points’ that may be triggered if the world surpasses 2 degrees
- Such situations could create what some experts call…
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