Climate related investment risks rise

Hard times: Droughts have become more frequent due to climate change. Economists warn that climate change’s adverse impacts will spread beyond sectors such as agriculture FILE PIC
Hard times: Droughts have become more frequent due to climate change. Economists warn that climate change’s adverse impacts will spread beyond sectors such as agriculture FILE PIC

The multi-sectoral Financial Stability Council (FSC) has raised an alarm about growing concerns of climate-related risks which it says carry the significant ability to spoil investment outcomes.

The FSC is a statutory body made up of the Bank of Botswana (BoB), the Non-Bank Financial Institutions Regulatory Authority, the Financial Intelligence Authority and related entities.

Last week, the FSC produced its Financial Stability Report (FSR) for May, which is a research product designed to predict and mitigate vulnerabilities that could threaten the stability and resilience of the local financial system. While climate related risks have been a major worry for environmental movements and social institutions, the FSC has signalled worries that climate problems could harm macroeconomic stability and ultimately impact business prospects.

Editor's Comment
Government’s efforts commendable!

Since the news broke, the government made sure to work hand in hand with the South African government to assist the families of the victims. The two countries came together to help the families identify the bodies of their loved ones through DNA testing. The government also announced that they would assist families with food for mourners before the funerals.Even though the deceased persons were mostly residents of Molepolole, the government...

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