Financing Climate Safety

Financing Climate Safety / Jeffrey D. Sachs, Project Syndicate, 26/12/2014

http://www.project-syndicate.org/commentary/fossil-fuels-carbon-pricing-tax-by-jeffrey-d-sachs-2014-12

The purpose of the global financial system is to allocate the world’s savings to their most productive uses. When the system works properly, these savings are channeled into investments that raise living standards; when it malfunctions, as in recent years, savings are channeled into real-estate bubbles and environmentally harmful projects, including those that exacerbate human-induced climate change…

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