Super Typhoon Mangkhut, the most powerful storm system to hit Hong Kong in decades, making its approach at Kennedy Town on 16 September 2018. Photo: Xiaomei Chen

Climate change may spark ‘green swan’ disasters that trigger systemic financial crisis unless authorities take action, BIS warns

  • The Bank of International Settlements (NIS) is often described as the central bank for the world’s central banks
  • The analysis by officials at the Basel-based BIS adapts the “black swan” concept devised by Nassim Nicholas Taleb to describe adverse events outside the scope of regular expectations with wide-ranging or extreme impacts
Topic |   Environment
Super Typhoon Mangkhut, the most powerful storm system to hit Hong Kong in decades, making its approach at Kennedy Town on 16 September 2018. Photo: Xiaomei Chen
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