Simon Zadek on the irony of systemic risk in financial markets, in a nutshell:
"Short termism delivers some specific, systemic biases in the pricing of risk. Zero carbon pricing in valuation is the exemplary case. practiced by the vast majority of investors (including many of those belonging to climate-sensitive investor coalitions). Such pricing in effect is betting on a four to six degree world, an approach that at scale is nothing less than shorting civilization itself."
"Short termism delivers some specific, systemic biases in the pricing of risk. Zero carbon pricing in valuation is the exemplary case. practiced by the vast majority of investors (including many of those belonging to climate-sensitive investor coalitions). Such pricing in effect is betting on a four to six degree world, an approach that at scale is nothing less than shorting civilization itself."
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