It's a number that made a lot of noise. According to the recent report of the CDP (Carbon Disclosure Project), the 200 largest companies listed internationally expect that climate change could cost them nearly $ 1 trillion in the coming years. An alarming finding, at a time when the topic of ecological transition is more relevant than ever.
In the recent European elections, the Europe Ecology-Greens list and its number 1 Yannick Jadot were synonymous with surprise for a large number of voters, with 12.7% of the vote .
In terms of votes, the party was positioned just behind the National Rally and the Republic on the move, but largely ahead of the Rogue and the Socialist Party (6.2%, for both parties) and Republicans (8.5% ).
In 2019, all eco-friendly? It is clear, in any case, that there does seem to be a collective awareness . Climate risks are inevitable if things do not change. And that says consequences from an environmental point of view, also says financial consequences .
Just to see it, take a look at the NGO's recent report, CDP (Carbon Disclosure Project), published Tuesday, June 4, 2019.
We learn that climate change could lose $ 1 trillion (or 888 billion euros) to the world's 200 largest companies, within 5 years. A stratospheric sum, but whose causes are easily identifiable.
Indeed, according to the Global Environmental Disclosure System, extreme weather conditions associated with increased greenhouse gas emissions account for 80% of potential economic losses.
The risk of a moment Minsky
In this context of both environmental and economic crisis , societies have paradoxically realized the potential opportunities they could derive from it. These opportunities could reach, according to the companies surveyed, a value of 2,100 billion dollars .
In question, the demand faster than expected in electric vehicles but also the changes in consumption habits favored by financial institutions.
This wind of hope should not make us forget other threats . Among those to take into account, there is the risk of a "Minsky moment". Behind this enigmatic formula invented by the American economist Herman Minsky (1919-1996), hides the idea that the financial world can switch from optimism to pessimism.
In other words, when we use this expression, we refer to a precipitous collapse of assets.
In April, Bank of England Governor Mark Carney and his counterpart Francis Villeroy de Galhau of the Banque de France agreed to warn of the threat of a climate-related "Minsky moment". unless companies take the problem seriously and commit to the long term.
For the planet and in order not to lose (too much) money, the big industrial groups know what they have left to do.
Antoine Le Fur