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MNI INTERVIEW:Climate Change A Slow Pandemic For Central Banks

(MNI) OTTAWA
(MNI)

Adviser to global central banks and supervisors says there's no vaccine-like solution.

Central banks will find climate change disrupts the global economy in a way similar to the Covid pandemic, the head of the Toronto Centre that trains global financial supervisors told MNI.

“The climate crisis to me is like a pandemic that’s very slow moving, but you can’t either isolate or vaccinate your way out,” President Babak Abbaszadeh said on MNI's FedSpeak podcast. The Toronto Centre was created after the Asian currency crisis of the 1990s and this year the group has hosted events with Carmen Reinhart and the head of Ukraine's central bank, also training some of its senior staff who are moving in and out of military service.

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Central banks will find climate change disrupts the global economy in a way similar to the Covid pandemic, the head of the Toronto Centre that trains global financial supervisors told MNI.

“The climate crisis to me is like a pandemic that’s very slow moving, but you can’t either isolate or vaccinate your way out,” President Babak Abbaszadeh said on MNI's FedSpeak podcast. The Toronto Centre was created after the Asian currency crisis of the 1990s and this year the group has hosted events with Carmen Reinhart and the head of Ukraine's central bank, also training some of its senior staff who are moving in and out of military service.

Keep reading...Show less