The costs have to be high enough to change people's behaviors, and will probably fall on the people who are currently consuming the fossil fuels.
Financial games can do all sorts of things as we work out who is going to be formally treated as responsible for the write-down of lots of assets. However there is no escaping the physical costs of climate abatement; where things that could be done easily with fossil fuels get a little bit harder to achieve.
There are entrenched interests that don't like climate change, but if the alternatives are even in the same ballpark from a financial perspective there would be a stampede of bankers investing for the reduced political risks.
The costs have to be high enough to change people's behaviors, and will probably fall on the people who are currently consuming the fossil fuels.
Financial games can do all sorts of things as we work out who is going to be formally treated as responsible for the write-down of lots of assets. However there is no escaping the physical costs of climate abatement; where things that could be done easily with fossil fuels get a little bit harder to achieve.
There are entrenched interests that don't like climate change, but if the alternatives are even in the same ballpark from a financial perspective there would be a stampede of bankers investing for the reduced political risks.