Tuesday, 11 January 2011

Jeremy Leggett argues that Queensland floods show interconnections between financial, climate and energy crises

Jeremy Leggett, CEO of Solarcentury, an Ashden finalist in 2007, writes in his Triple Crunch log

In the last month, we have seen interconnections between the financial-, energy- and climate crises very clearly ...

One example he gives is that:

massive investments have gone into coal, based on prospectuses prepared by the same investment banks whose dire risk management gave us the financial crisis, factoring in not a dime of risk from the climate crisis. But we ignore such risk at our peril, as coal miners in Queensland have discovered lately. Their flooded mines have meant big losses in export income, and coal shortages overseas which themselves have knock on impacts ...

BBC latest: Brisbane braces for surge

Pic: Karumba, Queensland

No comments: