The European Central Bank, one week after the Glasgow climate talks, released a report into what’s really going in the world of European banks in terms of climate risks.
It makes for some really scary reading. Scary because they are completely unprepared for what is to come. (You can read all of Assaad Razzouk’s commentary on this in this Twitter thread:
The radical, deep system wide changes needed to how the global economy functions and how in fact we all function, is set to profoundly change everything we considered “normal.”
The shock to the unprepared is going to be extremely disruptive.
I keep saying, look at your business (or career) through a carbon emission lens and put an urgent strategy in place to decouple from any fossil fuel touch points as soon as you can to get ahead of the coming disruption.
Sir David Attenborough had this to say during his remarks at COP 26:
“Everything we have achieved in the last 10,000 years has been enabled because of the [climate] stability during this time. Until now. We are already in trouble. The stability we all depend on is breaking.”
As the physical environment becomes more unstable, the pressure to attempt to avert even more catastrophic events will rise exponentially. Those who have decoupled as much as they can from fossil fuels are going to fair better than those who haven’t.
How far are you down this road?