For the first time, the Bank of Canada ranks climate change as a key weak spot in the Canadian financial system and economy, as a growing number of governments start to warn of the risks to the planet and economy that global warming brings. The Bank of Canada’s Financial System Review—2019 , published on Thursday, lists six vulnerabilities in the Canadian financial system, and for the first time climate change made the list. According to the bank, the six top vulnerabilities are: high level of household indebtedness, imbalances in the housing market, cyber threats and financial interconnections, fragile corporate debt funding from certain markets, climate change, and rapid change in crypto-asset markets. “Climate change continues to pose risks to both the economy and the financial system. These include physical risks from disruptive weather events and transition risks from adapting to a lower-carbon global economy,” the Bank of Canada said […]