@climateeconomics.bsky.social yes and no. Climate disasters are fueled by pumping more CO2 into the atmosphere and the culprit behind that is oil & gas expansion. So really it's the fossil fuel industry that could trigger a financial crisis. 🤨 #MakePollutersPay #InsureOurFuture
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Climate Risk Economics
Could climate disasters trigger a financial crisis?
After the L.A. fires, many of the burnt properties' mortgages will be under the water. Some people will walk away and stop repaying.
Also, a lot of that debt is packaged and sold to investors...
www.cbc.ca/news/busines...
After the L.A. fires, many of the burnt properties' mortgages will be under the water. Some people will walk away and stop repaying.
Also, a lot of that debt is packaged and sold to investors...
www.cbc.ca/news/busines...
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