Fed Fears A Green Recession

Cabinet’s climate change plan could pose “a significant new risk” to the economy if it costs jobs in the energy sector, transport and utilities, says the Superintendent of Financial Institutions. Jeremy Rudin in remarks to lawyers in Vancouver said Canadians have “very little reliable information” on the impact of any sharp reduction in greenhouse gas emissions: “The prudent thing to do is to prepare for the possibility that the overall economic impact of the transition will be sharply negative, at least for some time.”

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