Bloomberg TV: Fires and floods will become more frequent and this could affect banks

James Nixon, Head of Climate Change Macroeconomics at Oxford Economics, joins Veronika Denizov for Bloomberg's In Development. 

The decarbonisation of heavy industry, shipping, aviation and agriculture are the great challenges for the implementation of the agreement in the Green Deal. In Europe, the effects of climate change are unlikely to have a negative effect on gross domestic product in the short term, and there may even be positives, such as an increase in agricultural yields. Europe has a plan until 2050, but complex decisions will be made after that period.

Watch and listen to the  full interview below: