BOE’s Breeden Says Banks Unprepared for $150 Carbon Price

The Bank of England increased its carbon price forecast to $150 per ton by the end of the decade and warned banks that they face a tipping point similar to a “Minsky moment” if they fail to prepare.

Earlier this year, the central bank said carbon prices may exceed $100 a ton in order to limit global warming to well below 2 degrees Celsius, compared with pre-industrial levels.