A recent report by the US national intelligence agencies raised the issue of Climate Change and the impact they expect it to have on global stability.
“The nation’s intelligence agencies are warning, in the annual Worldwide Threat Assessment, of global instability if climate change continues unabated, according to a report submitted for a hearing Tuesday before the U.S. Senate Select Committee on Intelligence.”
“The impacts of the long-term trends toward a warming climate, more air pollution, biodiversity loss, and water scarcity are likely to fuel economic and social discontent—and possibly upheaval,” said Dan Coats, the Director of National Intelligence. (1)
A report titled, A Security Threat Assessment of Global Climate Change: A Product of the National Security, Military and Intelligence Panel on Climate Change, was released in February 2020 by the Center for Climate and Security. (2)
“The report by CCS, a non-partisan organization with an advisory board of military and national security experts, notes heightened social and political instability and risks to U.S. military missions and infrastructure, impacting our military readiness and putting our troops in harm’s way.”
These experts explain, “Climate change is already affecting military readiness, multiplying the threat to troops on the ground around the world and ultimately jeopardizing the American military’s ability to protect us from emerging geopolitical instability driven by climate change impacts. From deadly floods to extreme heat, our troops are feeling the impacts of the climate crisis as it makes extreme weather events increase in their frequency and severity.” (3)
According to Sherri Goodman, Senior Strategist and former Undersecretary of Defense, “The assessment is clear – climate change is a pressing risk to national and global security, and will evolve to become a severe and systemic threat the more we allow global temperatures to rise. Our Panel’s analysis shows that no region of the world will be left unaffected, and climate impacts will interact in dangerous ways in even near-term, lower levels of warming.”
The report warns, “the avoidance of (these negative impacts) will require quickly reducing and phasing out global greenhouse gas emissions.” Delay and inaction are not feasible options.
As the military strives to address the risks associated with climate change, the question to ask yourself… “Are your values reflecting your financial plan in such a world?”
Climate change is having an impact on financial markets. It affects GDP, prices of commodities and products, migration of people, insurance rates for properties, profitability of projects and companies, ect.
Financial markets do not like unpredictability. Many financial decisions are made based upon what has happened in the previous 10, 25, even 100 years. That decision-making is in some ways ossified by peoples limited perspective and time horizons.
There are real decisions individuals need to make to protect their financial futures. Reach out to me to discuss how managing risk can help you maximize your financial plan in a climate changed world.
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