Despite pledging to reach net-zero greenhouse gas emissions, Canada’s Big 5 banks have invested over $1 trillion in coal, oil and gas companies since 2016, upping the risk to the Canadian economy as the energy transition unfolds.
Yves here. The Department of Defense started warning in the early 2000s that global warming would generate destabilizing mass migrations. But Americans like to [think] this sort of thing happens in poor countries near the equator, or coastal Florida. But a new book by Jake Bittle argues that the Great Displacement is coming here too.
This dire forecast may be overly pessimistic. Unfortunately, it's consistent with the continuing history of market economics blocking most attempts at increasing social-economic planning.
