The risk is that people aren’t thinking about this sufficiently, and that there’s a bigger adjustment that comes -- you get a climate Minsky moment where there’s much tougher regimes put in place, Carney said in an interview on Bloomberg Television , noting there’s already upheaval in the strategy of German utilities and stemming from the Volkswagen AG emissions scandal.
Nearly 240 firms have signed up to a disclosure campaign led by billionaire Michael Bloomberg and Bank of England Governor Mark Carney. The number has more than doubled over the past six months.
Bloomberg, the former mayor of New York City, said the firms will benefit by demonstrating to employees, customers and shareholders that they are being environmentally friendly, managing climate risks and pursuing climate-related business opportunities. "If the investing public likes what they are doing, they'll get a higher valuation, their stock will go up and [corporate] bonuses will be bigger," he said.
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