Yes, the global finance system must reform to avert a climate disaster

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ESTABLISHING a good degree of pandemic resilience would have cost less than the economic output lost in just a single day of the covid-19 crisis. That missed opportunity is one indictment of market failings among many that former Bank of Canada and Bank of England governor Mark Carney advances in our interview with him this week.

Another, perhaps the most troubling, is the inability of markets to value the natural world. How is it that we can put a value on Amazon, the company, yet only ascribe value to the Amazon rainforest by logging it and stripping it …

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