We’re staring down a climate bubble that poses enormous risks to both our environment and economy. We need to act now.” A strong call for action from an unlikely ally who knows a thing or two about the danger of bubbles. HENRY M. PAULSON Jr. June 21, 2014 ... THERE is a time for weighing evidence and a time for acting. And if there’s one thing I’ve learned throughout my work in finance, government and conservation, it is to act before problems become too big to manage. For too many years, we failed to rein in the excesses building up in the nation’s financial markets. When the credit bubble burst in 2008, the damage was devastating. Millions suffered. Many still do. We’re making the same mistake today with climate change. We’re staring down a climate bubble that poses enormous risks to both our environment and economy. The warning signs are clear and growing more urgent as the risks go unchecked. This is a crisis we can’t afford to ignore. I feel as if I’m watching as we fly in slow motion on a collision course toward a giant mountain. We can see the crash coming, and yet we’re sitting on our hands rather than altering course.
Posted on: Tue, 24 Jun 2014 14:53:34 +0000
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