s posh rooftop solarium and yoga studio, several staff members were talking this week about how to stop doing business with banks that finance fossil fuel projects and put their money into financial institutions that are funding clean energy investments instead. It’s a frequently asked question, but there have been few good answers — until now.
“In other words, we sit back, go play golf and have permanent wild parties watching the sun set. Setting aside the suffering and misery that uncontrolled climate change would cause, the best economics indicate not investing in climate action would also be economic shot in the foot. Thesays, ‘The longer we delay meeting total climate investment needs, the higher the costs will be both to mitigate global temperature rise and to deal with impacts.
“Insiders say these banks think tighter government regulation will come, so they want to support as much fossil fuel expansion as possible — and make a lot of money — before that happens.