A top insurer at Allianz thinks climate change is on track to destroy capitalism. He believes that the vast costs of extreme weather events (violent storms, floods, fires and droughts) will leave the financial sector unable to operate. Whole areas of the planet could prove uninsurable (https://www.theguardian.com/environment/2025/apr/03/climate-crisis-on-track-to-destroy-capitalism-warns-allianz-insurer). This runs counter to the view that the costs of countering climate change are simply too high for people to accept. If anything, the costs of not trying to limit climate change will cost the Earth.
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