not many people know
Paul Homewood
h/t Ian Magness
Apparently the Bank of England are now climate experts!
According to The Telegraph:
Bank of England warns climate change could destroy property values for hundreds of thousands of homeowners due to extreme weather increased flood risk.
Some 300,000 homes, or 1% of the country's properties, are at risk of losing a fifth of their value, according to Threadneedle Street's projections of the impact of the most severe climate scenario.
https://www.telegraph.co.uk/business/2024/12/30/climate-change-devastate-value-homes-warns-bank-of-england
Back in the real world, according to EA figures, only around 5,000 properties in England were affected by flooding in the year to 24 March:
Of course, there are problems with uninsurable properties, but that's because they're built on flood plains, not climate change.
Surely central banks should be more concerned about the economic catastrophe that net zero will bring?
Relevant
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