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Climate change can mean the end of humanity “as we know it,” says JP Morgan

Climate change can mean the end of the human race “as we know it,” says JP Morgan in an apocalyptic note to customers

  • Economists warn of food and water shortages if CO2 emissions are not reduced
  • JP Morgan Chase analysts warn of the effects of climate change in an apocalyptic report
  • They said that dozens of trillions of dollars would be wiped out of the growth of the global economy

Climate change can mean the end of the human race, “as we know it,” the largest bank in the Western world has warned.

In an apocalyptic report to customers, economists at JP Morgan Chase said that not reducing CO2 emissions could lead to “catastrophic” events such as extreme weather, war, food and water shortages and the destruction of nature.

The American bank said that a large number of people have to leave their country because of rising sea levels or farmland that remained bare due to blistering heat.

In a bleak conclusion, they said that it was possible that the future will not be too bad, but that the situation is more likely to deteriorate. They also said that any delay in action increases the chance that the costs of dealing with climate change will increase.

In a bleak conclusion, they said that “it is possible that the future will not be so bad” but that “more likely, the situation will continue to deteriorate.” They also said that any delay in action increases the chance that “the costs of dealing with climate change will rise”

It also issued a warning saying that dozens of trillions of dollars would be wiped out of the growth of the global economy.

The bank’s analysts said the impact of climate change is wide, affecting everything from health and political stress to biodiversity and species survival, and added: “We cannot exclude catastrophic outcomes where human life such as we know that it is threatened. “

The warning – contained in a research article entitled “High-risk issues: the climate and the macro-economy” – comes after green campaigners have accused it of being one of the biggest contributors to climate change in the business world.

According to the Rainforest Action Network, between 2016 and 2018, JP Morgan provided more than £ 150 billion to fossil fuel companies.

They said that “a tax on CO2 emissions” would be one of the most effective ways to encourage companies to switch to using green energy. Holidaymakers are pictured above on a ski slope in the French Pyrenees, which has recently had a lack of snow

Climate activists have branded the bank’s 63-year-old Jamie Dimon – with an estimated £ 1.3 billion personal fortune – the “world’s worst climate change banker.”

Extinction Rebellion activists called on the bank yesterday to “put their house in order and take action,” and claimed it “financially nurtured the climate and ecological crisis that is destroying lives.”

The group said, “The report is candid, it exposes the risks that our civilizations face, including natural disasters and conflicts, and describes likely scenarios that create enormous challenges for the survival of humanity.”

They added: “This is not only the biggest economic problem humanity has ever encountered, but the biggest moral problem. It is not about the income of our children and grandchildren that we are talking about here, but about their lives. “

The JP Morgan analysts’ report contains suggestions that some business leaders are likely to surprise.

They said that “a tax on CO2 emissions” would be one of the most effective ways to encourage companies to switch to using green energy.

However, they admitted that this would not happen soon due to concerns in developed countries about the impact it could have on jobs and economic growth, while developing countries fear that improvements in living conditions would be hampered.

The analysts took note of Britain’s vow to reduce its carbon emissions to zero by 2050, but said, “It is not clear how exactly that will be achieved.”

According to the Rainforest Action Network, between 2016 and 2018, JP Morgan provided more than £ 150 billion to fossil fuel companies.

According to the Rainforest Action Network, between 2016 and 2018, JP Morgan provided more than £ 150 billion to fossil fuel companies.

According to the Rainforest Action Network, between 2016 and 2018, JP Morgan provided more than £ 150 billion to fossil fuel companies.

In a bleak conclusion, they said that “it is possible that the future will not be bad,” but that “the situation is more likely to continue to deteriorate.”

“No government seems willing to sacrifice the incomes of their current citizens for the benefit of their children and grandchildren or for the benefit of citizens in other countries,” they wrote.

“Climate change is a global problem that requires a global response. This does not really happen … That opens the earth for a greater chance of a catastrophic outcome. “

They also said that any delay in action increased the likelihood that “the costs of dealing with climate change will rise,” and that “climate changes are irreversible.”

A JP Morgan spokesperson said last night that his analysts expressed an independent position and that their report did not represent the bank’s official position.

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