Today we recognise annual Earth Day and this year’s theme is to “invest in our planet” by focusing on the effects of climate change and the endeavors to mitigate them.
This Earth Day, with its focus on financing for climate change, takes place at a critical moment; a new report from Reclaim Finance, a nonprofit which published a scorecard grading investment firms on their environmental commitments, found broken promises on the part of bankers and asset managers who just a year ago pledged to fight global warming.
In point of fact, the report revealed that 30 of the biggest asset managers have at least $550 billion invested in oil, gas and coal companies that have expansion plans, and even more alarmingly, they continue to provide “fresh cash to companies that are ignoring climate science,” said by Lara Cuvelier, sustainable investment campaigner at Reclaim Finance.
However, new efforts are being made by major financial institutions in order to accelerate investments to combat climate change, and preserve the environment. Two of them stand out; the International Monetary Fund created its Resilience and Sustainability Trust, and the international non-profit Global Citizen is planning to launch the Global Citizen Impact Funds.
Read the full article by Amber van Unen here.
“This is the moment to change it all — the business climate, the political climate, and how we take action on climate. Now is the time for the unstoppable courage to preserve and protect our health, our families, our livelihoods… together, we must Invest In Our Planet” – EarthDay.Org.
We at Prodktr are continually informing ourselves and focusing on the actions that can be taken locally which will have a substantial impact towards fighting the challenges of global climate change.
Photos by Markus Spiske on Unsplash