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the Expression “climate emergency situation” (climate emergency) urgent to address climate change, became the word 2019 by the Oxford dictionary. Global warming carries risks for the financial system, which may require monetary measures to prevent them. Christine Lagarde, the former managing Director of the IMF and the new President of the ECB, proposed to change the criteria for the purchase of securities under quantitative easing in favor of “green”. The effects of this proposal can be compared with the performance of Greta Thunberg in UN adjusted for traditional conservatism inherent in the Central banks.

Lagarde is not the first of the leading Central banks, drew attention of the monetary authorities to the threat of climate change. The head of the Bank of England mark Carney in 2015 called global warming a serious risk to financial stability. Under his leadership, the Bank of England became the first regulator, decided to check the stability of the financial system of the country in different climatic scenarios.

moreover, recently we saw the first bankruptcy of companies from the S&P 500 index, triggered by climate change. Energy holding company Pacific Gas & Electric Company (PG&E) in January of 2019 declared bankruptcy in response to a multibillion-dollar claims of responsibility for the fires in California in 2017-2018.

Default PG&E demonstrates that the risk of global warming ceases to be a problem of the future and result in certain losses already. According to world Bank estimates, every year the world consumption loses more than $500 billion due to natural disasters. Money melt away like glaciers in the Arctic.

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