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By Jörg MÜNSTERMANN, Clemens NAWROTH, Christin STOCK and Arnd HEßELER, zeb consulting*
European monetary authorities fear that the threats of sustainability risk will destabilize financial markets. Analysis by the European Central Bank (ECB) shows that the damage caused by natural disasters has increased significantly in recent years, becoming an ever greater burden for financial markets to bare. While not even 300 climate-induced disasters were reported in 1985, the most recent figure for 2018 was more than 800 disastrous natural events.
The damage resulting from climate change incidents like the costs of floods or crop failures could total $550 trillion worldwide by 2100. And this does not even include the damage that will result from the...
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