Stranded Assets
Central Bankers Aren’t Using Their Climate Superpowers Yet
They’re some of the most powerful independent forces in the world, but they’re not acting like it.
European Central Bank headquarters sit in Frankfurt.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
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Climate policy isn’t moving anywhere near fast enough to cut greenhouse gas emissions. We know that’s partly because it’s been politicized: there’s the pointless “debate” over whether climate change is real, and its more sophisticated cousin that accepts the basic science of atmospheric warming deems action too expensive.