STARTING NOW: Hear from @Blitterman, @RepRooney, Matt Sonnesyn, @CFTCbehnam, and @khilldavis as they discuss implications of climate change risk to the U.S. financial system.
We'll also be live-tweeting the event in this thread. us02web.zoom.us/webinar/regist…
"From a political and from a 'what's right' point of view, climate change is a central issue. Republicans have left the discussion entirely, but Florida is ground zero. People are starting to realize that." - @RepRooney
.@Blitterman: "Climate is a risk management problem. And when you look at it from that perspective, a lot of things become very clear. For one, we don't have the right incentives...the first recommendation of this report is that the U.S. has to price carbon."
"Time is not on our side. When it comes to risk management, we can solve anything with enough time. But we've seen it with COVID-19. A one-week delay was a disaster...with climate change, every 3 years of delay is 1/10th of a degree higher. That's a liability for our kids."
"One of the principle concerns...is thinking about our competitiveness in this space...The costs of climate change are not zero, and businesses are starting to quantify these costs more and more." - Matt Sonnesyn of @BizRoundtable.
Matt Sonnesyn: The U.S. and Europe are generally going in the right direction of bringing emissions down. It's a different story for the developing world. That's why a price signal is crucial to driving innovation to bring down the costs of reducing emissions.
.@Blitterman: "Any factor that impacts the return of a portfolio needs to be taken into account. Climate is no exception."
.@RepRooney: "7 out of 10 millennials vigorously oppose offshore drilling. And Republicans are not paying attention.
I'd like to see more young people write op-eds, etc. They can catalyze change, if they mobilize."
.@RepRooney: It's up to the Senate to catalyze change. Some Members don't believe change is possible, even if they see the consequences of climate change. And ultimately, many Members are going to have to break through the ideologies and pressures coming from their leadership."
That's a wrap! Thanks to everyone who participated. We'll have a recording live on the site later this week.
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