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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 As the world warms, it’s not just people who are feeling the heat. Bats are also susceptible to extreme heat, and overheated bat boxes can be “a death trap,” the Guardian reports. In the wild, bats move between rock and tree crevices in search of a perfectly moderated temperature. […]
by Natasha Lasky, ODP Staff Writer A new report entitled The World’s Forgotten Fishes from the World Wildlife Fund has found that there has been a “catastrophic” decline in freshwater fish, with nearly a third of all freshwater fish species coming perilously close to extinction. The statistics paint a sobering picture: 26% of all critically […]
by Amy Lupica, ODP Staff Writer Move over Dolly, there’s a new clone in town and her name is Elizabeth Ann the Black-Footed ferret. You read that right; the U.S. Fish and Wildlife Service (USFWS) announced on Thursday that it had successfully cloned the first U.S. endangered species. Elizabeth Ann was born on December 10, […]
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