Finance
Central Banks Criticized for Risky Gamble on Climate Fight
- NGFS climate scenarios could cause more harm than good
- Activists say temperature paths too high, transition too slow
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Climate activists are warning that central banks are taking a “risky gamble” with their strategies for addressing the financial risks from global warming.
The scenarios being used to guide the transition to a carbon-neutral economy are biased toward temperatures that are too high and fossil-fuel phase-outs that are too slow, according to a study by Oil Change International and Reclaim Finance.