Briefing

    Bank of Canada identifies climate change as a threat to the financial system

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    The risks include insuring against damages to infrastructure caused by extreme-weather events, and the cost of shifting to a low-carbon economy. This is the first time the central bank has included climate change among its list of vulnerabilities to the financial system in its annual financial health report card. Alongside household debt and the housing market, cyber attacks were named as a significant threat. (Canadian Press)

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