JP Morgan report warns of climate catastrophe

| 21/02/2020 | 49 Comments

(CNS): A banking giant that has been criticised for its heavy investments in the fossil fuel industry has circulated a new climate report that it commissioned, which warns of “catastrophic outcomes” and threats to human life “as we know it” if the world does not take immediate action to cut emissions. JP Morgan Chase paid for the report but it was written by a team that was “wholly independent from the company”, according to the BBC, and it has been circulated to its clients. The report is not public and the bank has made no official comment about the findings.

The report, written by a group of economists and not climate activists, called for a global tax on carbon. But the authors were pessimistic, saying that “this is not going to happen anytime soon”.

“It is a global problem but no global solution is in sight,” the report stated.

See the BBC report here


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Category: Climate Change, Science & Nature

Comments (49)

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  1. Anonymous says:

    The only thing preventing these types of communities on a global scale is governments.

    Sustainable City | Fully Charged https://www.youtube.com/watch?v=WCKz8ykyI2E

    “The Sustainable City, a housing development in Dubai with 3,500 people already living there and it’s still not quite finished.
    This truly is a remarkable achievement, a stark lesson to building contractors the world over. It’s not more expensive to build and it’s hugely cheaper and more efficient to live in. Inspiring sustainable city planning!
    Spread the word if you know any builders!”

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  2. Anonymous says:

    For anyone interested in looking at the data for yourself, the extremely well taxpayer funded climate change advocacy group GlobalChange.gov are kindly making their raw data freely and openly available to us all here:

    https://climate.data.gov/
    (Thanks for this data, it’s really helpful)

    As claimed here:
    https://www.globalchange.gov/browse/datasets?f%5B0%5D=field_dataset_topics%3A96&f%5B1%5D=field_dataset_year%3A173

  3. Anonymous says:

    1:01 is a very ignorant Trump supporter.

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    • Anonymous says:

      There are a lot of ignorant Trump supporters. Hard to believe that any reasonable person could believe that climate change is a Chinese hoax.

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  4. Anonymous says:

    Ah yes, the typical way of some…now that we have made our profits, let’s get serious about the crisis.

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  5. Anonymous says:

    The vast majority of scientists in the know are extremely worried about global warming and most of the few who disagree are in the pockets of oil companies or others ie Trump. If you want to see what global warming can do to a planet just look at Venus. That wasn’t always so bad before continual volcanic eruptions brought about runnaway global warming. The result? Pressures high enough to crush a car on the surface, temperatures on the surface high enough to melt lead oh and by the way, raining acid too. Nice place to live now. Do you really want to ruin this planet for your children and grandchildren? Once you start something it can be very hard to stop it. There is no Planet B !

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    • D. Truth says:

      I’m glad you got back from Venus safely, 4:39 pm.

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    • Johnny says:

      There is no proof of man made climate change. It is a theory only. Why do you people insist on believing politicians who are chronic LIARS! It is just a way to Tax you….wait and see! And monitor everything you use and do including how much gas and electricity you use and if you use more, you will be charged! You are very foolish not to look at the other side of this discussion.

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      • Anonymous says:

        Gravity is a theory also, You are very foolish not to look at the other side of this discussion.

  6. Anonymous says:

    Focusing disproportionately on only one slice of the greenhouse gas emissions pie would prove to be tragically simplistic, unless we were also prepared to apply “methane gas tax”, “nitrous oxide tax”, and “fluorinated gas tax”.

    The paradox is that it is taboo to discuss the environmental cost of global feed, beef, chicken, pork, fish, dairy industries, some of which receive enormous subsidy in voter heartlands.

    No surprise that ambitious statesmen, and/or JPM clients, would rather they not point out the obvious.

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  7. Anonymous says:

    coronovirus? people? our politicians not worrying about them…only lodge..port and lining their pockets😢

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    • Anonymous says:

      You are always harping about the Lodge. Wha happen you applied and was turned down or wha?

      • Anonymous says:

        Nah I never wanted to be anything but my self. Lodge folk look down at me and other poor Cayman folk. But that o.k. They just leave me alone and I leave them alone. I vote but not for them.

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      • Anonymous says:

        Yeah he was turned down and now has a huge chip on his shoulder. He is a very sad case.

    • Anonymous says:

      Coronovirus will be here soon, guaranteed, and then our priorities will change very fast.

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      • Anonymous says:

        Not everyone will die if it gets here. People survive typhoid, cholera and bubonic plague. Fear kills before virus. It weakens immune system.
        Take internally one drop of real thyme essential oil and you should be fine. Fill an empty capsule with any oil- coconut, olive, etc. and add 1 drop of thyme oil. Swallow. Once a day. Better with food. Don’t give it to children, but spray a face mask with it (water plus 1 drop of thyme, oregano essential oil). Carry the bottle with this spray to re-apply as often as you wish.
        Just remember,synthetic, adulterated and diluted essential oils won’t work.
        I recommend Floracopeia. Don’t know if they ship to Cayman.

  8. Anonymous says:

    BS

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  9. Anonymous says:

    There are fewer complaints about our complicity with JBS, Cargill, Smithfield, Tyson Foods, Perdue, Monsanto, National Beef and other industrial meat conglomerates that are diverting and poisoning fresh water rivers, deforesting the planet for additional unsustainable feed crops, and contributing more greenhouse gases than all the global fossil fuel use combined. It’s humanity’s diet that’s the problem, but also the solution, and something we can control. Unless we change our dining preferences, and soon, human population is accelerating well beyond +3’C point of no return. You can bank on that.

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  10. Anonymous says:

    CATASTROPHE Wow, that sounds really really really bad!

    Meanwhile: Gore’s Predictions Fall Flat

    12 years after Al Gore’s “Inconvenient Truth” guilt/fear producing predictions, let’s close by examining just how accurate his “science” proved to be on his way to the bank.

    1. Rising Sea Levels – inaccurate and misleading. Al was even discovered
    purchasing a beachfront mansion! And so did Obama’s

    2. Increased Tornadoes – declining for decades.

    3. New Ice Age in Europe – they’ve been spared; it never happened.

    4. South Sahara Drying Up – completely untrue.

    5. Massive Flooding in China and India – again didn’t happen.

    6. Melting Arctic – false – 2015 represents the largest refreezing in years.

    7. Polar Bear Extinction – actually they are increasing!

    8. Temperature Increases Due to CO2 – no significant rising for over 18 years.

    9. Katrina a Foreshadow of the Future – false – past 10 years, no F3 hurricanes; “longest drought ever!”

    10. The Earth Would be in a “True Planetary Emergency” Within a Decade Unless Drastic Action Taken to Reduce Greenhouse Gasses – never happened.

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    • Anonymous says:

      #6

      These are headlines. Your arguments please!

      * Arctic ice melt changing major ocean current.
      * NASA Has Detected Millions of Methane Hotspots Littering The Arctic. If tundra melts, it releases methane and other carbon emissions into the atmosphere, further accelerating global warming. Today, we know the Arctic is warming twice as fast as any other place on Earth.
      * The Arctic’s thawing ground is releasing a shocking amount of dangerous gases
      * Welp, Scientists Found 28 New Virus Groups in a Melting Glacier
      * Alaska’s sea ice has completely melted away (AUG 05, 2019 article)

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      • Anonymous says:

        Does the * means your claims are real?

        Have you ever heard of concept that ice melts naturally?

        What about the concept that ice was once water? Because it was.

        And some if that ice also can become a gas called Water Vapor? (the leading Greenhouse Gas (70%) by the way that’s supposedly destroying the earth)

        Ice melting occurs all the time, perfectly naturally does not mean there is pending catastrophe.

        Do you know that in Cambrian period, the central plains of the Unites States where completely underwater? Co2 was about 7000 PPM and animals and plants were striving?

        Alaska’s sea ice is melting…. when in August? this is what it looks like now almost March https://www.cruisin.me/cruise-port-webcams/united-states/dutch-harbor-alaska4/

        Keep drinking the koolaid

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    • Anonymous says:

      When all your fake news comes from the 700 Club, Breitbart, Fox, Heritage Foundation, Freedomworks, and Christian Science Monitor…can I hear a hallelujah!

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      • Anonymous says:

        What happening in the Arctic region is a FACT, not fake news.

        And who said that the sources YOU rely on is not bullshit masquerading as science? Corporate science to be exact.

        Arctic ice melt changing major ocean current: https://climate.nasa.gov/
        The Arctic’s thawing ground is releasing a shocking amount of dangerous gases https://www.nationalgeographic.com/science/2020

        Good enough sources for you?

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        • Anonymous says:

          Did you buy your hard hat yet, for when the sky falls on your head? What about your raft?

          I hear Al gore is selling rafts now.

          Religious nuts are hillarious

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        • Anonymous says:

          Yeah, you are diagreeing with someone agreeing with you.

        • Anonymous says:

          I’ve actually been way North of the Arctic Circle, past Svalbard and Rossoya. That was in the Summer of 1988 and even then the limits of the ice that were being recorded during operations up there in WWII had receded in a way that was quite distrurbing. How much of this you want to chalk up to environmental issues is debatable but it was definitely getting warmer up there. The other big change was the weather. The ship encountered two major hurricane-strength storms as the season ended. One had winds that were over 100mph – we got caught in the Hinlopen Strait by that and it’s not an experience I’d want to repeat. I missed the second one because I’d flown home but it hit in the area around Bear Island and prevented the vessel from making it back to its home port in Holland, they ended up in the Shetland Islands.

          When I see (and hear) comments from locals who have clearly never been North of Florida I get a pretty good idea what the problem is – ignorance!

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          • Anonymous says:

            Ignorance is in abundance about the environment in the Cayman Islands.

          • Anonymous says:

            So you think you are an expert because of your arctic adventure on daddy’s trust fund?

            When I read anecdotal accounts passed off as some sort of scientific evidence I get a pretty good idea why all of the paranoid drama. Ignorant narcissism.

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            • Anonymous says:

              7:00, I don’t have to be an expert. All I have to do is have my eyes open and I can see what is clearly going on with villages sinking in the former frozen Arctic tundra now turning into mud.

              You need to get off island more often and look what is going on.
              Just go to Miami and also look at the millions the City of Miami is spending on coastal / city flooding. Certainly not anecdotal but suggest you just keep your head in the Seven Mile Beach sand oblivious to all that is going on around you.

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              • Anonymous says:

                Hahahaha. The Globe is warming and the seas are rising, but not in Cayman. Just everywhere else.

            • Anonymous says:

              7:00 Not on my ‘daddy’s trust fund’ but as a working member of the crew of a Dutch research vessel.

              As I said in my original comment – ‘When I see (and hear) comments from locals who have clearly never been North of Florida I get a pretty good idea what the problem is – ignorance!’ – and I thank you for proving my point.

          • Anonymous says:

            Anonymous at 4:21 p.n. You are so right. I believe ignorance is a virus that is spreading faster than the coronavirus!, they should wear a mask so that we can spot them from afar and steer clear.

        • Anonymous says:

          1:01, That’s why in Canada they are moving entire villages because the tundra is melting and turning the land into mud. You really are stupid when it comes to basic facts in the Arctic. Take a trip up there and see for yourself like I did last year.

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    • Anonymous says:

      It would take more than a decade for this to happen- you should KNOW at least that.
      If your brain does not sense it YET, doesn’t mean it is not happening.
      You should not be questioning global warming simply because it does not jive with your limited perspective.

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    • Anonymous says:

      Hey “1:01pm”, Stop embarrassing yourself. Only uninformed and overly politicized goofs cite Al Gore in their anti-reality rants.

      Gore was a politician, not a professional climate scientist. Who cares what he said or predicted? It’s about the science.

      Anyway, hurry and go turn on your TV. Fox News called and they want you to plug in what’s left of your neocortex.

      #lame

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    • Anonymous says:

      Bad news sells, Good news is ho hum. Nothing but bad news about good things now. Better to just not listen anymore.

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    • Anonymous says:

      1:01, Where do you get your news? Must be FOX News. Bet you are a Trump supporter too believing climate change is a Chinese hoax. You are a very sad individual.

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  11. Anonymous says:

    free solution: stop having children, stop eating meat.

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    • Anonymous says:

      12:38 It’s not the west that are responsible for over-populating the globe.. You are telling the wrong people not to procreate. As for the meat argument. Just cut down.. no need to abandon it completely.

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      • Anonymous says:

        …and finally punctuated by the racist personal bias proclamation for a perfect Rush Limbaugh score.

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      • Anonymous says:

        Ever wondered why vegetarians are so aggressive?
        People completely restore their health switching to meat only. Hundreds of real people of all ages testimonies on meatheals.com
        Just check the video of Dr.Shawn Baker father playing basketball. The man in his 70s has a stance of young man. No frailty of advanced age.
        .

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    • Anonymous says:

      👍🏾brought to you from the far liberal, left wing, pro-gay media houses

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  12. Anonymous says:

    JP Morgan – the company that employs Tony Blair as an advisor? He’s been paid by his employers to encourage investors to pour money into the Middle Eastern oil states for years.

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    • Anonymous says:

      True about Tony Blair, but on the other hand, JP Morgan has provided credit facilities in the billions in the past 5 years, for sustainable environmental projects.
      They get it on the environment much better than the CIG.

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      • Anonymous says:

        Maybe, but they use other peoples’ money to fund this as a speculative venture. That’s really no different than playing the futures market on oil, which is something they also do. They’re playing both sides here.

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