Top US Regulator Warns Financial System Is At Risk Due To... Climate Change [zero hedge]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: zero hedge
Submitted by Nick Cunningham of OilPrice.comA top U.S. financial regulator is worried that climate change could threaten global financial markets.Rostin Behnam, a commissioner at the Commodity Futures Trading Commission (CFTC), said that the financial system was at risk from the growing frequency and severity of storms.“The impacts of climate change affect every aspect of the American economy – from production agriculture to commercial manufacturing and the financing of every step in each process,” Behnam said at the meeting of the CFTC’s market risk advisory committee on Wednesday. “As most of the world’s markets and market regulators are taking steps towards assessing and mitigating the current and potential threats of climate change, we in the U.S. must also demand action from all segments of the public and private sectors, including this agency.”He added: “Our commodity markets and the financial markets that support them will suffer if we do not take action to mitigate the risk of
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