Climate activists are celebrating Deutsche Bank’s new energy policy banning financial support of drilling in the Arctic, a move which comes after years of pressure from advocacy groups. The bank, a multinational investment company headquartered in Germany, announced Monday that it will no longer offer financial services to new projects that involve drilling for oil […]
Green Finance is the funding of and investment in environmentally sustainable projects and infrastructure. It first became significant after the creation of the first green bonds in 2007, which are used by governments to raise the funds for green spending. However, it took another eight years for countries to start to show real interest in […]
This new handbook is an indispensable guide to climate activists and policy-makers alike towards a complete overhaul of the financial system to stop climate chaos. Central to its message is that fossil fuel lending can be redirected towards green energy and that public finance and ownership can bankroll and provide the infrastructure for delivering a […]
The evidence is in: Global banks don’t fight climate change, they support climate disaster. Despite the warnings coming from scientists on the Intergovernmental Panel on Climate Change (IPCC), they continue to invest in the fossil fuels industry. By Claude Forthomme Impakter Yet warnings have intensified in the last two years, starting with the October 2018 IPCC […]
We’ve reached a significant tipping point in how the battery storage market is financed, shifting from expensive private equity investments to ordinary bank finance. Which will be another factor leading to a terawatt of storage by 2040. By Mokurai Banks Finally Start to Spend Big on Giant Batteries Once reluctant to finance big projects, lenders […]
A new report from a collection of leading NGOs takes a deep dive into how banks around the world are fueling the climate crisis. The report, called Banking On Climate Change, finds that 35 banks have poured a staggering $2.7 trillion into dirty energy projects from 2016 to 2019 – the four years following the Paris […]
I’ve spent most of my career getting to the bottom of what’s happening to working families in America. And when I saw the seeds of the 2008 financial crisis growing, I rang the alarm as loud as I could. But the people with the power to stop the crisis didn’t listen—not enough of them anyway. Not […]
Less than a month ago, I wrote about our new Stop the Money Pipeline campaign, which demands that big banks, asset managers, and insurers stop supporting the fossil fuel industry. We had just notched our first victory: The world’s largest asset-management company, BlackRock, announced one of the largest ever divestments from coal and a commitment to put […]
In 2008, the big banks crashed the economy through reckless, predatory lending. Twelve years later, they’re working to do something even worse: crash the planet. With every dollar they invest in fossil fuel companies, big banks and asset managers make the climate crisis worse. And they’ve invested a lot of dollars. By Michael Brune Sierra Club Executive Director […]
Whatever you think of billionaires, it’s almost always better to have them on your side rather than as foes. That’s why news from one of the world’s glitziest gatherings of the high and mighty, the World Economic Forum at Davos, bodes well for climate activists. Prior to meeting this week, the WEF published its celebrated annual […]
Kristalina Georgieva, the managing director of International Monetary Fund, warned Friday at a speech at the Peterson Institute for International Economics that rising inequality and the climate crisis have the whole planet headed toward yet another financial disaster. By Meteor Blades DailyKos Andrea Germanos at Common Dream writes—IMF Head Gives ‘Stark Message’ of Looming Inequality-Fueled Global Financial Disaster: […]
People will tell you that individual activism and boycotts are a waste of time. Demanding that colleges and universities divest from fossil fuel stocks is for sophomores. Getting arrested outside an ATM machine at a JP Morgan Chase branch in New York City has no impact on things. Don’t believe them. The truth is all […]
Bill McKibben is an indefatigable climate activist and an implacable foe of the fossil fuel industry. The founder of 350.org, he has been arrested more times than Mike Tyson. His latest encounter with so-called “law enforcement officers” occurred on January 10th when he and a small group of climate protesters blocked an ATM machine at a […]
It can be super frustrating to see the Tesla story warped, facts omitted, and incessant and obvious smear campaigns against Tesla. It’s especially frustrating since those are so effective. Having a sociology background, I have to say that the whole Tesla short seller drama is fascinating. In the year 2019, that includes flamewars on social media, paid […]
A group of experts has published a draft treaty for a sweeping European climate finance pact, to inject more than a trillion euros into the fight against global warming. Addressing a packed launch event in Paris last week, French economist Pierre Larrouturou and climate scientist Jean Jouzel urged European member states to mobilise funds in a similar way to the response to […]