The question of whether firms are able to adapt to a changing climate is central to understanding the long-run economic effects of climate change. This column presents evidence from Italy showing that high temperatures affect firm demography by reducing the entry of newborn firms in the market and increasing business closures, while relocation to colder areas plays a minor role. Balance sheet data reveal a dichotomy between large firms, which successfully adapt improving their profitability, and smaller ones for which negative temperature spillovers become entrenched.
<p><span face="times new roman,times" size="3">Thank you all for the chance to speak today. </span></p>
<p><span face="times new roman,times" size="3">I know some of you and have met many new colleagues since I have arrived. Because the reality is, it is not common for Finance Ministers to attend a COP. In fact, I am the first U.S. Treasury Secretary to do so. The reason I am here is because climate change is not just an environmental issue. It is not just an energy issue. It is an economic, development and market-destabilizing issue, and I would not be doing my job, if I did not treat it with the seriousness warranted. </span></p>
A new high-level coalition for clean energy was announced on Tuesday by India and the UK at the United Nations Climate Change Conference (COP26) in Glasgow, involving major governments, international.
Remarks by Secretary of the Treasury Janet L Yellen at COP26 in Glasgow, Scotland: Delivering Finance for Emerging Markets and Developing Economies marketswired.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketswired.com Daily Mail and Mail on Sunday newspapers.