The ECB’s climate models are built on obsolete scenarios
https://www.ft.com/content/a82a7bf6-b567-46cf-899c-edcee1079349 The ECB’s climate models are built on obsolete scenarios It is prudent to stress test the eurozone’s resilience but not if the underlying assumptions are wrong Roger Pielke Jr. The scenarios the ECB are relying on are obsolete © Bloomberg Share on twitter (opens new window) Share on facebook (opens new window) Share on linkedin (opens new window) Roger Pielke Jr. May 9 2021 77 Print this page Receive free Climate change updates We’ll send you a myFT Daily Digest email rounding up the latest Climate change news every morning. The author is a professor of environmental studies at the University of Colorado The late Kenneth Arrow, who won the 1972 Nobel Prize in economics, once worked as a long range weather forecaster in the US military. When he realised that these weather forecasts were no more accurate than random guesses, Arrow conveyed the message to his superiors. “The commanding general is well...