The NGFS is committed to the belief that climate change and environmental risks endanger the safety and soundness of the financial system in the guise of floods from rising sea level, greater storm intensity, wildfires, and other real or imagined environmental plagues, like ‘air pollution, water pollution and scarcity of fresh water, land contamination, reduced biodiversity and deforestation’,” he wrote upiec predicts “environmentally sustainable financial policies will experience a similar cycle of failure and revision” to efforts to maintain monetary stability. He concludes: “will the NGFS successfully create a new form of ‘transitional risk’ linked to climate-change fanaticism? Time will tell.