Paul Fisher: Climate Change Risk
on Sunday, October 30, 2016Paul Fisher, Former Deputy head of the Bank of England, Money Quote saying that changes in global weather patterns could trigger system-wide financial storm. Paul Fisher said:
![Paul Fisher [Climate Change] is potentially a systemic risk, [that] could be the trigger for the next financial crisis quote](https://itsamoneything.com/money/wp-content/uploads/Paul-Fisher-Systemic-Risk-Trigger-Financial-Crisis.jpg)
“[Climate Change] is potentially a systemic risk, [that] could be the trigger for the next financial crisis” — Paul Fisher
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In this quote, Paul Fisher is warning about the potential economic risks posed by climate change. By referring to climate change as a “systemic risk” and suggesting it “could be the trigger for the next financial crisis”, Fisher is arguing that the effects of global warming – such as rising sea levels, more extreme weather events, food and water insecurity, etc. – have the capability to severely disrupt global financial systems and markets if left unaddressed.
The interpretation is that Fisher views climate change as a major threat to global economic stability that could cause a worldwide recession or other serious downturn depending on how climate-related disasters and supply chain issues impact international trade, food/water supplies, infrastructure, and other areas integral to the functioning of the global economy.