Global carbon taxes are coming: central banks must prepare
The next financial crisis could be a green one. Are central banks doing enough to prepare?
The Covid-19 crisis may have temporarily suspended action to address the impending climate crisis, but governments still need to act if they are to meet ambitious carbon-reduction goals, and the likelihood remains that new carbon taxes will be introduced round the globe.
The problem is, such taxes could cause seismic shifts in asset allocation.
As observers, including the Bank for International Settlements, have warned, actions to push a green transition, including carbon taxes, could
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