Central banks: Climate change 25% GDP shock by 2100

Friday 26 June 2020

Here it is from Network for Greening the Financial System (NGFS), that is, global central banks including the RBA:

This modeling is next to useless of course. The RBA can’t even model local inflation in a tiny economy. But intuitively it is about right.

We are on track for the disorderly scenario of 3 degrees warming or more and that will bring global chaos.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.