Climate Changed
Fed Says $500 Billion in Losses Show the Economic Threat of Climate Change
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Climate change is a threat that risk managers can’t ignore, warned a senior official from the U.S. central bank.
“The U.S. economy has experienced more than $500 billion in direct losses over the last five years due to climate and weather-related events,” Federal Reserve Bank of New York Executive Vice President Kevin Stiroh told a risk forum on Thursday at the bank.