A new report from the Federal Reserve Bank of New York disputes the growing claim that climate poses risks to the financial system. “We find that weather disasters over the last quarter century had insignificant or small effects on U.S. banks’ performance,” it says. From John Cochrane, the “Grumpy Economist”: “This is a courageous paper…
Tag: Global Warming
The Folly of Massive Tree Planting
It sounds great. Campaigns are underway with the goal of planting trees around the globe; the World Economic Forum has an initiative to plant 1 trillion new trees. The aim of these programs is to reduce climate change, encourage biodiversity, and provide local employment. But, according to Benji Jones at Vox, “There’s just one problem:…
Don’t Believe the Hype Over IPCC Climate Predictions
Are we headed for disaster? The UN’s Intergovernmental Panel on Climate Change seems to say so in its latest report. Or does it? “As usual, the media and politicians are exaggerating and distorting the evidence in the report,” writes Steven Koonin in the Wall Street Journal. He is a former energy official in the Obama…
Cold, Not Heat, Caused the Most Deaths
Did you know that the number of temperature-related deaths went down between 2000 and 2019 despite rises in global temperatures? That finding appeared in a study in The Lancet: Planet Health, part of the prominent Lancet medical journal chain. Cold-related deaths declined while heat-related deaths increased just barely, saving tens of thousands of lives as…
The Carbon Tax that Failed
It’s not been widely publicized, but the carbon tax in British Columbia has failed to bring about reductions in greenhouse gas emissions in the province. That point is made by Kris Sims of the Canadian Taxpayers Federation in an article in the Asian Pacific Post. She writes: “Government documents show that emissions in B.C. have…
What Exactly Will the SEC Do on Climate Change?
Speculation is growing about how the SEC, under the new chair, Gary Gensler, will address climate change. In the Insurance Journal, Ben Bain reports on the SEC’s possible actions: “The U.S. Securities and Exchange Commission may make corporations reveal more about climate risks in key regulatory filings, a push that Wall Street and the biggest…