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He also took a pop at former Bank of England governor Mark Carney, who has previously said that climate change will dwarf the cost of living pain. Let’s get back to making money out of the transition.’ For coal, what happens in year seven is actually irrelevant. What happens to the planet in year seven is actually irrelevant to our loan book.
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He explained: ‘At a big bank like ours, what do people think the average loan length is? It is six years. HSBC says that climate change is one of the most serious emergencies facing the planet, but Mr Kirk suggested it is not a big deal for the high street bank. 'I don't doubt the science but we do need to adapt.' 'Who cares if Miami is six metres underwater in 100 years? Amsterdam has been six metres underwater for ages and that's a really nice place. He added: 'Human beings have been fantastic at adapting to change, adapting to climate emergencies, and we will continue to do so. Hence, the proportionality is completely out of whack.' 'We've got inflation coming down the pipes and I'm being told to spend time… looking at something that's going to happen in 20 or 30 years. We've got regulators in the US trying to stop us. 'I work at a bank that's being attacked by crypto. Mr Kirk suggested to many resources were being directed at a problem that is '20 or 30 years down the line'. Left-wing Democratic congresswoman Alexandria Ocasio-Cortez has gone further, suggesting that Miami will cease to exist 'in a few years' without radical action. 'And it is hard to imagine how we could defend Miami in the long run.' 'In our analysis, a lot of cities have futures that depend on our carbon choices but some appear to be already lost,' wrote lead author Ben Strauss, vice president for sea level and climate impacts at Climate Central. Many could be saved if dramatic cuts were made to carbon emissions, but some - including Miami - were already doomed, it claimed. The 2015 study then pinpointed 414 cities in the US that were particularly at risk. Scientific studies have previously warned Miami is at risk of being inundated by rising seas caused by global warming.Įxperts have already established that if we do nothing to reduce our burning of fossil fuel up to the year 2100, the planet will face sea level rise of 14-32 feet (4.3–9.9 meters), a report in the Proceedings of the National Academy of Sciences said.