How to stop banks from investing in fossil fuels | Lucie Pinson

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4.1 • 11.9K Ratings

🗓️ 12 May 2022

⏱️ 13 minutes

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Summary

Money is pollution's biggest driving force -- particularly, the cash invested in dirty energy projects, says financial responsibility campaigner Lucie Pinson. She shares a three-pronged approach to stop banks from funding fossil fuel companies, including what she calls "collaborative blackmailing" (it's more ethical than it sounds). By demanding more accountability from polluting companies and encouraging ethical banking, Pinson shows how to cut off the problem at its source.

Transcript

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0:00.0	It's Ted Tux daily, I'm your host, Elise Hugh.
0:07.6	Financial institutions like Banks have outsized power in the fight against climate change.
0:12.6	They finance fossil fuel industries after all.
0:16.0	In her talk from the 2021 countdown summit, Financial Responsibility Campaigner Lucy Pinson
0:21.5	makes a convincing case for why financiers should stop backing polluters and polluting as
0:28.1	soon as possible.
0:30.1	Support for Ted Tux daily comes from Airbnb.
0:36.7	When you're staying at an Airbnb, you might be like me wondering, could my place be an
0:41.3	Airbnb and if it could, what could it earn?
0:45.0	I think about this all the time.
0:46.9	Sub, whose extra room in London was storing furniture until his mom had the idea to start
0:51.6	Airbnb in it, now that extra room helps pay the mortgage.
0:57.1	Find out what your place could be earning at Airbnb.co.uk slash host.
1:05.5	When we think about climate change and pollution, we usually think about our stocked girls,
1:12.7	fossil gas platforms in the Arctic, a black smoke rising above coal plants.
1:20.1	We never think about banks, insurers and investors, but we should, because money is a driving
1:28.2	force beyond fossil fuel extraction and environmental destruction.
1:34.0	The most polluting sector on the planet is not fossil fuels.
1:38.5	It's finance.
1:40.0	Sure, you've heard banks are increasingly putting money into green projects.
1:46.5	Yes, they are financing green projects, but they are doing it on top of new polluting
1:53.0	oil, coal and gas projects.
	...

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