European Central Bank (ECB) president Christine Lagarde once spent more time talking about climate change than inflation. It happened during a press conference in Frankfurt less than two months ago, but already feels like something from another century — or planet.

In the days since, the novel coronavirus and an oil price war between Saudi Arabia and Russia have rocked financial markets and brought the world to the brink of an economic crisis. Understandably, these two extraordinary events have grabbed global attention. Yet the trickle of climate news raising concern has not slowed...

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