What can you do if you’re a smallish island in the North Atlantic with a lot of snow and a melting economy? Quite a lot, it turns out, if you’re prepared to put local people’s needs first. Iceland was hailed recently for erecting a memorial plaque to one of its most striking features, Okjökull, which shrank so drastically because of climate breakdown that it lost its status as a glacier. It was the first in Iceland to do so, and is now known, fittingly, by a diminutive, as Ok. Barely 10 years ago, when the country was in the grip of a different crisis, the pace of its far from glacial response showed how quickly rapid changes of government policy can turn a crisis around. Iceland was at the heart of the global financial crisis in late 2008 and was nearly destroyed by it; 97% of its banking sector collapsed in just three days. its three largest banks − Glitnir, Kaupthing and Landsbankinn − had accumulated a debt of $85 billion (£66bn), equivalent to 10 times the country’s national income (GDP), or 20 times the national budget.
Climate News Network 27th Nov 2019 read more »