But so far, emissions have been rising every year, once again to a record high in 2018. And there are serious financial consequences. In 2018 the world suffered $ billion in losses from extreme events related to climate change. Earlier this year, Lloyd's of London announced a $ billion loss, due to an increase in extreme-weather related insurance claims.
Providing global governance in a globalized world  In a world where globalization is deepening, and where national financial systems are becoming more interconnected, financial stability must increasingly be achieved at the global level. To make this happen, good governance at the global level is essential. Fortunately, nobody is against strengthening global governance as a concept.