Mark Carney, Governor of the Bank of England, touched off a firestorm of criticism by claiming that catastrophic climate events are in store. In a speech given to the insurers group, Lloyds, Mr. Carney stated that “the catastrophic impacts of climate change will be felt beyond the traditional horizons of most actors”. The Bank of England apparently feels it can state unequivocally both the timing and magnitude of climate events well into the future.
So, let’s look at Governor Carney’s claims and how they stand up.
First of all, let’s agree on the points which are not debated.
Atmospheric CO2 continues to rise by about 2 parts per million (ppm) per year. This pace has been essentially stable for the last few decades. Atmospheric CO2 remains a trace gas at 400 ppm (0.04% of the atmosphere), up about 130 ppm from pre-industrial times. CO2…