On Earth Day, We Don't Have Time celebrated its sixth anniversary by inviting representatives from nearly 100 leading financial companies in our network under the theme 'Move the Money.'
The event was co-organized by our partner SPP, a leading Swedish occupational pension provider and a frontrunner in divesting from fossil fuels. Among the guests in the crowded room and online were representatives from many of the largest banks in the Nordics and other international banks, investors, and fund managers. Nick Nuttall, former UN spokesperson for the Paris Agreement, gave an insightful presentation on the role of climate finance in the UN negotiations since the Paris Agreement – and the big focus of finance at this year’s upcoming UN Climate conference COP29 in Baku. Boaz Paldi, Creative Director at the United Nations Development Programme, UNDP, talked about the creation of Weather Kids, the organization's new global campaign to raise climate awareness, and how this taps into We Don’t Have Time’s Move the Money campaign. Johanna Lundgren Gestlöf, Head of Sustainability at SPP, gave an investor view on biodiversity and ecocide, while Ingmar Rentzhog, CEO and founder of We Don’t Have Time, focused on the urgent need to shift investments at scale from the fossil fuel industry to green solutions. The event turned interactive when moderator Catarina Rolfsdotter-Jansson invited all on-site and online guests to participate in a workshop on climate and finance. The workshop included a Mentimeter poll and a discussion around the results.
Here are some of the questions and reactions:
The respondents were to pick a number from 0 (zero knowledge) to 10 (expert knowledge).
These responses align very well with the findings of a new scientific study, published in Nature, which shows that climate-change damages could amount to $38 trillion per year by 2050. (Link below.)
Scientists have labeled this decade the “decisive decade”, and the respondents seem to agree on this.
Over 6,500 institutional investors hold bonds and shares in coal, oil and gas companies to the tune of US$ 3.05 trillion. Find out more on the #MovetheMoney campaign site. Link below.
For an in-depth Climate Dialogue on active ownership between Ingmar Rentzhog, CEO of We Don’t Have Time, and Johan Florén, Chief ESG and Communication Officer at AP7, follow link below.
For more info on the Theory of Change, and the role of investors to make that change happen, watch our interview with Jakob König, Head of Fair Finance Guide in Sweden. Link below.
For more on We Don’t Have Time’s coverage on climate and finance:
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I've banked with Triodos for the last six years, but unfortunately they have just announced that they're withdrawing the overdraft facility from the personal current account. Can I afford to be ethical?
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This is so disappointing. We should continue to advocate for renewable energy.
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Let’s talk about nuclear energy! It’s our most powerful solution, and if you’re worried about any negative impacts of nuclear, I can share that they’re probably overblown. AND, we must think of all risks in relation to the other option. What if we don’t replace fossil fuels? The biggest risk of nuclear - not using it. 💪🏼♥️⚛️
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That's a well written article and very informative. Yes! Let's continue with this campaign #MoveTheMoney for more actions and solutions.
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Let's keep pushing for a #QuantumLeap in climate finance this year. #ClimateAction #COP29
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In our own country, we were able to convince the National Power Company, which includes water and electricity, to study more than 3 billion cubic meters of very salty waters with an EC of more than 150,000 micromos and find solutions to correct and remove their salinity, of course. This plan is currently under study and has not been implemented. But its acceptance by this company was an important and effective step that was taken.
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That's an outrageous figure!
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Good engagement.The figure on the screen is very huge.If moved to climate restoration,it can really do wonders.
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Looking forward to exploring the poll results together and continuing to push for impactful climate action.
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This is critical. People, should be enlightened on the consequences that we are likely to encounter if we do not deal with the issue of climate.change.
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The figure on screen is just disheartening.All that money being invested in coal,oil &gas companies is insane. If these resources were moved to green and renewable energy projects we would really be far.
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More people need to know about the reality of climate change and its effects. Not enough know about it.