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Purpose: This chapter discusses some policy options that central banks may find useful in dealing with climate change risk in the financial sector.

Methodology: This chapter uses discursive analysis to suggest policy options which central banks can use to deal with the risk of climate change in the financial sector.

Findings: Five policy options are proposed in the chapter, which includes: imposing a climate change capital surcharge; impose a fixed-rate risk capital – based on Tier 2 capital; a reduction in lending to industries whose activities destroy the environment and climate; creating a climate bank; and requiring financial institutions to relocate their important assets to areas less prone to climate change events.

Implication: Several policy experiments are needed to identify the best policy option that works best for each country while taking into account the unique financial sector, financial system, and climate change history of each country.

Originality: Central banks play an important role in regulating the financial sector and in managing its inherent risks, yet there are no studies that suggest policy solutions to help central banks and other financial sector regulators deal with the risk that climate change poses to the financial sector. This chapter suggests policy options that central banks can use to deal with the risk that climate change poses to the financial sector.

The chapter reviews recent evidence of, and debates about, the integration of art, entertainment, and media in media portrayals (e.g., movies, photographs, theater, music, performance art, museums, story-telling, modifications of an environmental space, social media, painting, comics, dance, videogames, etc.) of climate change based on three sources of data: 1) articles listed in academic reference databases and Google Scholar, 2) online sites, and 3) climate change news images. 1) Retrieved articles discuss both the potential and challenges of communicating about climate change through art, entertainment, and media. However, research is inconsistent on and in some cases is critical of the nature and extent of effects of art-based climate communication. 2) The Internet is a rich and diverse source of websites and videos about climate change. We analyzed 49 sites based on the art medium or form discussed, the primary content related to climate change, and the apparent goal of the site or video. The most frequent goals were promote action, collaboration, raise awareness, climate change communication, discussion, empowerment, reshape public perception, and engagement. 3) Based on the major themes and frames identified through content and cluster analysis of 350 images associated with 200 news articles from 11 US newspaper and magazine sources through late 2009, we summarize the theme of art and mass media representations of the environment, and how those are associated with the other major themes. We conclude by suggesting promising areas for future research on the intersection of art and science in communicating about climate change.

The purpose of this chapter is twofold. First, to give a concise account of the current global climate situation, its previous history according to the palaeoclimate record, and climate scientists’ predictions of the consequences of various scenarios of global climate change. Then to explain why so many people continue to be oblivious to the enormous risks of continuing with business as usual.

The approach is through a comprehensive study of the relevant evidence and the scientific and scholarly literature, interwoven with philosophical reflections on their significance.

The findings are as follows: the evidence for the anthropogenic nature of global warming is overwhelming, and the prognoses for continued burning of fossil fuels (sea level rise, extreme weather, etc.) are dire. The denial stems in large part from the undue influence of climate scepticism movements, lavishly funded by the fossil fuel industries, combined with a variety of psycho-social and economic factors.

The implications are several. Given the complex nature of global warming, scientists need to do a better job of communicating their findings to the general public, and scholars and academics need to find ways to expose the machinations of the fossil fuel industries. And given the global impact of climate change, citizens of the developed nations need to see that a radical change in their behaviour is demanded not only by considerations of social justice but also even by their own self-interest.

The value of this philosophical approach is that it affords a more comprehensive view of the situation around global warming than we get from the more specialised disciplines.

Fairness is central to any multilateral regime, that is, any agreement between multiple nation-states to address and resolve a common problem. Climate change mitigation is among the key global environmental concerns that will require a common agenda, approach, and set of actions by the community of nations. To that end, global climate negotiations under the United Nations Framework Convention on Climate Change (UNFCCC, 1992) are centered on establishing a multilateral framework to control greenhouse gas (GHG) emissions from all nations and to help those who would be affected by climate change.