Image by Marcus King.
The gap between what needs to be done to save the Earth from the environmental disaster of unchecked global warming and what is actually being done continues to widen. Yet another exemplar of this gap is the funding practices of the world’s biggest banks.
Capitalists not concerning themselves with small things like the future ability of the planet to remain livable is nothing new, or we wouldn’t be in our present predicament. But a new report from seven environmental organizations finds that 60 of the world’s biggest banks have invested US$4.6 trillion in fossil fuel projects since the Paris Climate Accord was signed in 2015.