top bank warns that governments and corporations aren’t prepared for climate change - carbon dioxide absorbent
After crossing the threshold in August 1, the world has spent a year on the entire natural resources budget.
This day, known as the Earth's excessive Day, marks the earliest point in time for the Earth to reach its annual resource limit.
Read more: "Greenhouse Earth": if the climate tipping point is reached, the Earth will become "unhabitable", which is highlighted by findsHSBC research using the Global Footprint Network (GFN)
An independent think tank for protection and sustainable development.
The bank has accused businesses and governments of not being fully prepared to tackle climate change and of not using natural resources effectively.
In its comments on the study, the bank noted extreme weather events such as rising temperatures across Europe and wildfires in California, Greece and Scandinavia.
According to Business Insider, HSBC said: "As scientists work on attribution analysis for specific events-there is a general consensus that climate change makes these events more likely and more serious . ".
The superadjustment day is calculated by taking the amount of natural resources generated by the Earth in the current year, dividing by the human consumption of natural resources on the Earth, and multiplying by the number of days in the year.
In most of the history of the Earth, the Earth can produce more resources than human beings every year.
By the beginning of 1970, however, this balance had changed and human consumption had begun to outbreed the planet.
Last year's Earth Day was in August 2, down from 1971 to December 21, and happened earlier every year.
Humans are using about 1.
GFN estimates that the number of resources the Earth generates each year is seven times that of the Earth.
The organization predicts that by 2020, human demand for the Earth's ecosystem may exceed 75% of the natural capacity to regenerate.
"The ecological resources and services we use are more than the carbon dioxide absorbed by the ecosystem by nature through over-fishing, over-cutting forests and discharging to the atmosphere," the nonprofit website wrote . ".
Inter-Governmental Panel on Climate Change (IPCC)
Global temperatures are expected to rise by about 15% by 2100.
HSBC believes that this will lead to more extreme weather events and increase social and economic costs.
Read more, analysts said: climate change events related to higher suicide rates-the study "seems to us that adaptation will rise further and focus more and more on social consequences ".
HSBC's intervention in the climate debate is only the latest intervention by banks and asset managers, who are now actively incorporating climate risk into their decisions --making.
Earlier this year, more than 200 of the world's largest investors, including BlackRock and JP Morgan Chase, promised to report the risks climate change poses to their business.
Task force on climate issues-
Relevant financial disclosure is an initiative designed to develop a consistent framework for companies to disclose climate change
Related financial risks
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