Danielle Fugere, president and chief adviser to the non -profit organization of shareholders when you sow, said it is a prerequisite to keep banks for their climate goals. We want to understand what they are doing, she said. Laws like California offers light of financial instability due to climate change due to fossil fuel and theoretical fuel, at least the funding of the agency will worsen it.
Of course, banks only require banks to reveal emissions and climatic risks that are unable to prevent the worst effects of global warming. According to a Report Landmark 2021 From the international energy agency, there is no new oil, gas and coal infrastructure that can be built if the world limits global warming to 1.5 degrees Celsius, (2.7 degrees F. That's why Patrick McCully, an analyst for high -end energy conversion for French non -profit financial recovery, the company supports a more sustainable banking bank, indicates that the legal banks should promote the fossils of the Fuel Fuel Surname.
These companies are acting against the interests of humanity, and we need to stop them, he told Grist.
However, Fajans-Turner said a policy of this nature will be difficult to write into laws and may face legal challenges even in the most advanced countries, where natural gas prohibits for new construction. defeated by industry groups.
Ann Lipton, a business law professor at the University of Tulane, said a better way for policy makers to limit fossil fuel projects to look further than the banking sector. For example, legislators may require insurance companies that cause financial risks related to climate when designing their policies, which can make fossil fuel projects more difficult to be insurance. We really like banks to stop funding for risk activities, but at the end of the day, a bank's job is to sponsor what can be predicted, she said. This is the job of the rest of society to make that (what) is not profitable.
Another strategy is to ask banks to announce a clear, theoretical carbon reduction plan, which may be a rear door to block new fossil fuel investment. Revealing in having a goal is that the bank is implementing a number of actions to ensure that it meets that goal, according to Fug Fugere. If a plan refers to Net-Zero on a certain day, then reliable, it must be related to some types of fossil fuel financing. If it declared in accordance with a road to limit global warming to 1.5 degrees Celsius, it is not allowed to expand fossil fuel.
