Banks are complicit, but we are all to blame in the climate equation

https://www.joinatmos.com/blog/oped-climate-equation

by giannidunk

10 comments

  1. Hellwig’s assertion that banks are merely responding to economic signals and are not the “bad guys” can be contentious. Critics might argue that banks have a responsibility to incorporate environmental considerations into their lending practices, beyond just responding to consumer demands. The financial sector’s influence on global emissions is substantial, and as such, banks are increasingly being called upon to adopt more sustainable practices.

  2. Weird headline, like saying that the Nazis were involved but the blame for the third reich is on prison camp labourers. Like, come on, most people aren’t actively driving the climate crisis to make a profit the way banks and capital investment firms are, they’re passively contributing in their efforts to survive.

    Well, let’s see that alternative solutions the article proposes.

    >We will need to support each other with empathy and pragmatism, and just as generations of our decisions have gotten us here, swift and purposeful action can lead us to a clean, fair and transformed economy for all.

    Hold on, you don’t have a solution, you just want to browbeat people with things they already know? Like, keep up. We’re finally, *finally,* talking about what to do now that most of us agree that the house is on fire, and your interjection into the discussion is to say, “Well, the fire is everyone’s fault and we can beat it by helping each other :)”?

  5. The next 50 years are digitally mortgaged at 1.2C by 2050 and 2% inflation. This does not compute with the Temperature data (more than 1.5C) and the inflation now caused by the much higher insurance costs. No rate cuts, also mean an upcoming mark to market event for assets that, for now, have been “deferred assets” with the price in the digital books far from the real-world prices.

  8. There is an argument to be had that consumers in the first world bear collective responsibility for overconsumption, but flattening this in regards to everyone everywhere under global capitalism is gibberish that only excuses the super wealthy.

  10. us? to blame? suuuure. we havent thrown a full out revolution against the morally corrupt ruling class in order to solve climate change ourselves. agreed. we are to blame for not doing that.

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