By Paul Homewood
h/t Ian Magness
Apparently the Bank of England are now climate experts!
According to the Telegraph:
Climate change threatens to devastate the value of hundreds of thousands of homeowners’ properties, the Bank of England has warned, as extreme weather increases flood risks.
Around 300,000 homes – 1pc of properties in the country – risk having a fifth of their value wiped out, according to Threadneedle Street’s projections of the impact of the most dire climate scenarios.
Back in the real world, only about 5000 properties were affected by flooding in England in the year to March 24, according to EA data:
https://notalotofpeopleknowthat.wordpress.com/2024/09/05/floods-data-for-2023-24-in-england/
Certainly there is a problem with uninsurable properties, but this is due to them being built on flood plains, not climate change.
Surely the Bank should be more concerned about the economic catastrophe coming our way thanks to Net Zero?