COP29 14 November - #MoveTheMoney to Fossil Free Banks
The International Energy Agency, IEA, calculates that investments in clean energy need to triple to $4.5 trillion annually by 2030. We have this money, but we are currently investing it in problems instead of solutions. The world spent $7 trillion subsidizing fossil fuels in 2022 alone. At the same time, pension funds and other institutional investors hold investments in fossil fuels totaling $3.03 trillion.
How can we shift these investments from supporting problems to financing solutions in time and at scale? How can banks and other financial institutions rid themselves of oil, coal and gas and offer fossil-free banking?
This session builds on the impactful global Move the Money campaign, launched by We Don’t Have Time together with the United Nations Development Programme, UNDP, Exponential Roadmap Initiative, and the Fossil Fuel Non-Proliferation Treaty.
Speakers:
Ivan Frishberg, Chief Sustainability Officer, Amalgamated Bank
Jacco Minnaar, Chief Commercial Officer, Triodos Bank
Anderson Lee, Research Associate, World Resources Institute
Eriel Tchekwie Deranger, Executive Director, Indigenous Climate Action
Organizers:
We Don't Have Time
Global Alliance for Banking on Values
https://youtu.be/vbrRyORScsU
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