Rhetoric and reality. The standard narrative we hear is that the financial markets hate the uncertainty around the Ukraine War, the effect of renewed supply constraints on the global economy, and the resurgence of covid in China. The reality is markets love the volatility caused by uncertainty, and profits at major financial institutions have never been higher.  The rhetoric is that policymakers are acting within their remit to limit climate damage. The reality? In its latest report, the Intergovernmental Panel on Climate Change (IPCC) essentially acknowledged that the 1.5 degrees target is now largely impossible because greenhouse gas emissions must…