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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 Amy Lupica, ODP Daily Editor According to the Australian Koala Foundation, 30% of the nation’s Koalas have been lost to drought, bushfires, and logging in just three years. The population has dropped to 58,000 from more than 80,000 in 2018, and no regions saw positive population growth. These findings arrive just days after the […]
By Amy Lupica, ODP Daily Editor The maned wolf is certainly a unique animal, with long legs, massive ears, and bright red fur. Many might compare it to a fox, but it’s actually South America’s largest canid species. And not only is the maned wolf elusive — it’s endangered. Researchers working with Rewilding Argentina and […]
Today is International Red Panda Day! These iconic and adorable creatures are worth celebrating for many reasons, but they’re also in need of serious protection. This cat-sized, fluffy-tailed animal is listed as endangered on the International Union for Conservation of Nature (IUCN) red list. Climate change and rising temperatures are reducing the red panda’s […]
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