School and college students aged between 16-19 are invited to blog on the topic of 'the economy and climate change'. The Bank of England says:
"We’re concerned about climate change. Its impact is already visible: glaciers are shrinking, sea levels rising and heatwaves are intensifying. And a threat to the environment is also a threat to the economy. Climate change, and society’s response to it, presents risks that could impact our monetary and financial stability objectives. Financial and economic risks can arise from events such as floods and droughts, e.g. insurance firms facing higher claims. Such risks can also arise in the transition to a low-carbon economy, like changes in government policy and technology."
Students are asked to explain, in no more than 500 words, what could be done to reduce these risks, taking into account the roles played by government, companies, regulators and investors, and backing up their arguments with sound reasoning and relevant data.
The winning blogs will be published on Bank Underground and the FT online. The deadline for entries is Friday 31st January 2020.
