Martin Wolf, sincerely, what is riskier, that some banks fail or that the planet fails?

Sir, Martin Wolf, as he should be, is clearly concerned with climate change, and states the report “Risky Business” to be valuable in “that it sets this out rightly as a problem in risk management”, “Climate skeptics are losing their grip”, July 9.

Absolutely, and since Wolf so often mentions he formed part of a commission reviewing bank regulations I just wonder why he there did not take the opportunity to then ask for lower bank capital requirements when financing something that could prove to be useful against climate change (sustainability ratings), instead of so purposeless and even so dangerous allowing banks to hold less bank capital against those perceived credit risks they already clear for.

But I guess that Wolf, as a baby-boomer, is more worried about the very short term health of the banks than about the planet… just as he does not seem to worry about the long term prospects of employment of our youth, since had that been the case, he would also have asked about lower capital requirements for banks depending on potential of job creation ratings. Clearly an “après nous, le Déluge…or le dryspell” reigns.

PS. Sir, since this has to do with capital requirements for banks, and Wolf has asked me in no uncertain terms not to send him more comments on it, as he knows all there is about that subject, I leave it in your hands whether to forward this letter to him or not.