Our planet’s average temperature is 1.1°C warmer than pre-industrial levels. We must reduce emissions and reach net zero by 2050 to avoid a climate disaster. Abnormal climate events are already becoming common due to the increased temperatures - such as the oceans becoming more acidic, sea levels rising and the loss of polar ice caps. The time to act is now. This pathway by former governor of the Bank of England, Mark Carney, and Director of Financial Stability at the Bank of England, Sarah Breeden, will outline the scale of the challenge we face, and what is being done to prevent a climate crisis, by global organisations and the Bank of England.
Watch all the videos and pass the test to obtain a certificate showing your completion of this Pathway. Certificates can be shared directly to your LinkedIn profile and social media accounts.
5 video modules • 43 minutes
The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy. This video helps us understand the need to reach net zero, outlines the cost of reaching net zero and finally explains where the money will come from.
Mark Carney • 10:18
To reach the $100-150tn required to meet net zero, significant commitments will need to be made over the coming years. New initiatives are starting up to encourage this investment such as GFANZ. This video outlines the commitments to reach net zero and further highlights how we can get the money where it is needed.
Mark Carney • 07:40
The climate crisis has become one of the biggest threats to global economy, requiring the intervention of central banks. In this video, Sarah Breeden helps us understand the role of the Bank of England in supporting the economy from climate related risks. She briefly explains what science around climate change shows and then explains the future risks we face and the impacts that this will have.
Sarah Breeden • 06:47
This video helps recognise how climate change creates financial risks that matter for individual firms. Sarah further outlines what the Bank of England is doing to help banks and insurers manage financial risks from climate change and also discusses the work undertaken by the Bank of England and the NGFS in modelling climate risks.
Sarah Breeden • 08:56
In this video, Sarah Breeden highlights the key aims of the Bank of England's Climate Biennial Exploratory Scenario exercise (CBES). She then explains the macroeconomic impacts of the shift to net zero and the implications of monetary policy.
Sarah Breeden • 09:56