Browsing the "banking" Tag

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The future of green finance

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 […]

July 18th

Global banks are supporting climate disaster

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 […]

June 20th

Renewable Roundup: Green finance

Rule One of Green Finance: Fossil Foolishness has become vastly more expensive than wind, solar, storage, and so on, and increasingly unprofitable. Rule Two: When you talk about Real Money, even the most hidebound practitioners have to take notice. Not those who are paid to deny reality, of course. But those profits are looking increasingly […]

June 11th

Why are banks still funding dead-end fossil fuel projects? Bill McKibben wants to know…

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 […]

January 14th

A decade after the financial crisis, economic scars remain, inequality thrives, and crooks roam free

As we keep hearing on this 10th anniversary of the financial crisis that destroyed so many dreams and livelihoods, the economy is now “robust,” “booming,” “soaring.”We have, indeed, come a long way from the acute pain of that crisis. But the implication that everything is hunky-dory contained in those descriptions is far off the mark. The damage done by […]

September 14th

Divest! US Bank agrees to dump pipeline financing!

One of America’s leading banks, U.S. Bank, announced in April that it would formally exclude all gas and oil pipelines from its project financing. In a revision to the company’s Environmental Responsibility Policy, U.S. Bank stated that it no longer “provide project financing for the construction of oil or natural gas pipelines.” Further, U.S. Bank explained that […]

May 16th

Bernie Sanders says fraud is Wall Street’s business model

By Meteor Blades His Tuesday afternoon speech about Wall Street was exactly what you would expect from Bernie Sanders on one of his signature issues: Focused. Fiery. And… well… fabulous. The Vermont Senator didn’t pull any punches: “Greed, fraud, dishonesty and arrogance. These are some of the words that best describe the reality of Wall Street today.” Fraud, he declared, “is […]

January 5th

James Howard Kunstler – Where the hell did all the gold go?

By James Howard Kunstler If the FBI can track down two homicidal Chechen nobodies inside of forty-eight hours of their Boston bombing caper, you kind of wonder how come the Bureau can’t detect the odor of racketeering, insider trading, and wire fraud in this month’s orchestrated smackdown of the gold futures markets, including the parts […]

April 22nd