The economic impact of climate change

Having recently returned from COP26 in Glasgow, Emilie Mazzacurati, Global Head of Moody's Climate Solutions, appeared on the Inside Economics podcast hosted by Moody’s Analytics’ Chief Economist Mark Zandi. Emilie discussed takeaways from the conference and critical issues related to climate change, carbon emissions, and their economic impact, including:

• whether the Glasgow Climate Pact, in which countries committed to “phase down” coal power and fossil fuel subsidies, will be effective in reducing carbon emissions;
• the role financial markets can play in driving banks, investors, and corporations to achieve net-zero emissions;
• forecasting the rise in temperature and associated risks from climate change, and how it impacts economic outlooks; and
• fiscal policy decisions that can accelerate climate change, such as fossil fuel subsidies, versus those that mitigate the impact of climate change and make communities and economies more resilient.

You can listen to the episode or read the full transcript here.

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