Finance
‘Green Swan’ Climate Event Could Trigger Global Financial Crisis, BIS Warns
- Officials say global warming could trigger systemic turmoil
- Villeroy urges ECB collateral rule overhaul to reflect risks
A swan swims amid an algae bloom in the Baltic Sea.
Photographer: Stefan Sauer/picture alliance via Getty Images
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Climate change threatens to provoke “green swan” events that could trigger a systemic financial crisis unless authorities act against such risks, according to the Bank for International Settlements.