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If temperatures continue to rise, the world is at risk from global sea-level rise, which will flood many coastal cities as seen above in Bangladesh. NurPhoto / Contributor / Getty Images

The mounting climate emergency may spur the next global financial crisis and the world's central banks are woefully ill equipped to handle the consequences, according to a new book-length report by the Bank for International Settlements (BIS), as S&P Global reported. Located in Basel, Switzerland, the BIS is an umbrella organization for the world's central banks.

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