The Federal Reserve is testing how climate change could hurt big banks | CNN Business

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The largest six banks in the United States have been given until July to show the Federal Reserve what effects disastrous climate change scenarios could have on their bottom lines

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Noting the risks could be “material,” the Fed said the banks will have to show how their finances fare under a number of climate stress tests, including heat waves, wildfires, floods and droughts, according to details of a new Fed pilot program released on Tuesday.

” Chips are the new oil The discovery, movement and use of oil has played an outsized role in shaping geopolitics over the past century and a half. But over the next 50 years, global interaction and wealth are more likely to be influenced by microchips, Intel CEO Pat Gelsinger told CNN Tuesday.

 

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As always people care more about the all mighty dollar then our planet 🙄

😂

🙄🙄Meanwhile, the ozone layer heals itself.

Who decided that the climate is never supposed to change?

So instead of 'How is our economic system destroying the planet?' We're asking 'How is our destruction of the planet going to affect our profit margin?' Capitalism as it's best 🙄

Who has time for this bs and who is directing this ?

This is so dumb. Banking and Climate Change scenarios? These people will include this hoax with any scenario.

Well another disaster to come, thanks to blindness and inconstant analysis.

pretend this happens, oh well I will loose lots of money, if that ever happened, because I will have to spend money I needed for my own personal uses... so yes I think it would impact me...

Financial effects of disaster? How about beneficial climate change?

Theyre sure to go the way of the polar bear.

Causation proof required?

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