Top US Regulator Warns Financial System Is At Risk Due To… Climate Change
Submitted by Nick Cunningham of OilPrice.com
A top U.S. financial regulator is worried that climate change could threaten global financial markets.
Rostin Behnam, a commissioner at the Commodity Futures Trading Commission (CFTC), said that the financial system was at risk from the growing frequency and severity of storms.
“The impacts of climate change affect every aspect of the American economy – from production agriculture to commercial manufacturing and the financing of every step in each process,” Behnam said at the meeting of the CFTC’s market risk advisory committee on Wednesday. “As most of the world’s markets and market regulators are