Introduction to Climate Change and Economic Impact
From: Robert Johnson, St Davids Road, Otley. If I was a gambling person and was asked to stake my house on the outcome of the question, ‘Will climate and nature change profoundly impact the economic wellbeing of the UK population within the next 20 years?’, I would look to professional tipsters for advice.
Understanding the Expert Opinion
By tipsters I mean the leading organisations and experts who could provide knowledgeable information, such as the Bank of England, the Office of Budget Responsibility, Morgan Stanley Bank, the European Central Bank, Deloitte, and R. Litterman, with his 25 years’ experience at Goldman Sachs. In addition, I would listen to actuaries, those professional risk calculators whose work underpins the decisions of banks and insurance companies.
Economic Views and Warnings
All of whom state that without substantial policy change it is highly likely that the UK and the global economy is heading towards a severe economic downturn. These economic views are summarised by Sarah Breeden, who holds Deputy Governor-level responsibility at the Bank of England for assessing monetary and financial stability risks from climate change. She stated, “As an international financial centre and small open economy, the UK is particularly exposed to global shocks.” Poignantly L. Layburn also said, “In a globalized world what happens to nature abroad doesn’t stay abroad”.
The Role of Scientists
Let’s not forget the thousands of scientists, whose track record about climate and nature change has consistently proven to be correct over the past 50 years. They are the ultimate insiders, the tipsters who truly know the form. Before making such a life-altering wager, however, it is worth considering the voices who claim that all will be well, and we should continue to “drill baby drill”.
Contrasting Views
Among these are Donald Trump (who never lies and is correct about everything) and his buddy Nigel Farage, both of whom have received, direct or indirect, payments from fossil fuel companies. There are also the trolls, conspiracy theorists and a handful of academics who appear to delight in stoking controversy. It is a few in the wealthiest top 1 per cent who shout the loudest to deny and or delay the transition to a green economy, secure in the knowledge that they and their families will remain safe no matter what unfolds.
Making an Informed Decision
The question remains: would you trust these individuals with your home? The stakes are extraordinarily high and when weighing up the odds of climate and nature change adversely affecting the wellbeing of 99 per cent of the UK population, it is crucial to remember that the most devastating impact will not be floods, storms, or disasters abroad. Rather, and unless there is a fundamental change in political action, the real tragedy will be economic, with the majority of the UK population suffering a severe decline in living standards.
Conclusion
So, when considering where to place your bet (vote), ask yourself: are you feeling lucky or do you want to play it safe? The future of our planet and our economic wellbeing depend on the decisions we make today. It’s time to listen to the experts, trust the science, and take action to mitigate the effects of climate change. The consequences of inaction will be severe, and it’s up to us to ensure a sustainable future for generations to come.
