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The report, titled Bankrolling Extinction, was produced by portfolio.earth, a new initiative by environmental, finance, and economics experts to learn more about the finance industry’s impact on climate change.
Prof Kai Chan of the Institute of Resources, Environment and Sustainability at the University of British Columbia explains that, currently, global banks sit at the center of a network of destruction, but with swift change, could find themselves at the center of a thriving sustainable economy.
“A global sustainable economy sits at the center of humanity’s much-needed transformation to meet the climate and ecological crises. And at the center of that sit the banks and the finance institutions whose investments power development around the globe,” he said.
Experts have found that investing in industries with sustainable practices could save trillions of dollars and offer net savings to governments and investors.
Chan dreams of a day where corporations and banks investin projects that will be a net benefit to humans, the environment, and the economy. “Imagine a world in which projects can only raise capital when they have demonstrated that they will contribute meaningfully and positively to restoring the planet’s bounty and a safe climate for all? That’s the future this report envisions and builds toward,” he said.
By Ashira Morris, ODP Staff Writer Almost 1,000 of Florida’s manatees have died as of Oct.1 this year, setting a tragic record for the most deaths in a year, with two months left to go. Deaths were largely caused by starvation — the predator-less sea cows typically spend hours a day eating seagrass, but declining […]
Do you have a good eye? Are you surprisingly good at Where’s Waldo and like Walruses? If so, we have great opportunity for you! The World Wildlife Fund (WWF) is seeking volunteers to help count Atlantic walruses…from space. Sea ice is retreating fast as global temperatures rise, forcing walruses to crowd on smaller floes […]
By Natasha Lasky, ODP Staff Writer At a UN conference in Kunming, China, President Xi Jinping set aside $230 million to form a fund that preserves biodiversity in developing countries. This announcement was made at the UN Convention on Biological Diversity talks (COP15) which are dedicated to preserving delicate ecosystems and preventing plants and animals […]
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