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US coal companies had already lost 90% of their value, he noted, but banks were also at risk. “Just like in any other major structural change, those banks overexposed to the sunset sectors will suffer accordingly,” he told the Guardian.

“Some [assets] will go up, many will go down. The question is whether the transition is smooth or is it something that is delayed and then happens very abruptly. That is an open question,” he said. “The longer the adjustment is delayed in the real economy, the greater the risk that there is a sharp adjustment.”

Far from damaging the global economy, climate action bolsters economic growth, according to Carney. “There is a need for [action] to achieve net zero emissions, but actually it comes at a time when there is a need for a big increase in investment globally to accelerate the pace of global growth, to help get global interest rates up, to get us out of this low-growth, low-interest-rate trap we are in.”

“Certainly the UK financial system is one of the most sophisticated at managing this risk. The UK can extend that lead, for the good of the UK, for the good of the world,” he said. “A number of the industrial solutions draw on the strengths of UK innovation, from the use of artificial intelligence in energy systems through to potentially advanced materials like graphene. There is a big upside for the UK economy.”

Reacting to the Guardian’s revelations about fossil fuel companies, Jeremy Corbyn, the leader of the UK Labour party, said: “Labour will delist companies that fail to meet environmental criteria from the [London Stock Exchange], and reform the finance sector to make it part of the solution to climate change instead of lending to companies that are part of the problem.”

The government imposed lockdown measures in mid-March, and this week the measures were loosened to allow children under the age of 14 daily outings of up to an hour.

“The beach is a living ecosystem. And when you spray it down with bleach, you’re killing everything you come across.”

ith humans barred from the beach for the past six weeks, she had hoped the number of nests in the area would double this year. “Now I’m worried that the tractors crushed the eggs,” she said.

“Fumigating beaches with bleach in the middle of bird-breeding season or during the development of the invertebrate network that will support coastal fishing … is not one of [Donald] Trump’s ideas. It is happening in Zahara de los Atunes,” Greenpeace Spain wrote on Twitter, in reference to the US president’s recent musing on whether the injection of cleaning products could combat Covid-19.

ne municipal official, Agustín Conejo, said his actions had been motivated solely by a desire to protect children. “I recognise it was an error,” he told the broadcaster Canal Sur. “But it was done with the best of intentions.”

Forecasts called for perhaps as much as 2in of snow in the Berkshire mountains in western Massachusetts on Friday into Saturday; an inch or so on grassy areas of central Massachusetts, southern New Hampshire and western Connecticut; and rain with a few flakes possible in the Boston area, he said.

Temperatures may plummet to record lows. The 9 May record low in Boston is 35F, also in 1977. Freeze warnings are in place for parts of Pennsylvania, Tubbs said, with freeze watches stretching into New Jersey and as far south as Maryland.

Thursday after being forced closed by the state because of the coronavirus pandemic.

“We’re a weather-driven business,” she continued. “But to have this happen the minute we are open is quite unbelievable.”