States and financial bodies using modelling that ignores shocks from extreme weather and climate tipping points States and financial bodies using modelling that ignores shocks from extreme weather and climate tipping points Flawed economic models mean the accelerating impact of the climate crisis could lead to a global financial crash, experts warn. Recovery would be far harder than after the 2008 financial crash, they said, as “we can’t bail out the Earth like we did the banks”. As the world