Wednesday, 28 October 2020

Don't Bank on It!

It is reported that, in 2019, the world's 50 largest banks lent $2.6tn to support projects that would inevitably cause ecosystem and wildlife destruction (https://www.theguardian.com/environment/commentisfree/2020/oct/28/the-worlds-banks-must-start-to-value-nature-and-stop-paying-for-its-destruction-aoe). This is in spite of undertakings in most countries where the banks are based to attempt to check the worrying declines in biodiversity seen over the planet. Most of the bank-financed projects involved agricultural developments and forestry. Scientists are now saying that these financial institutions must consider the impacts on biodiversity, when deciding which projects to finance. It seems a not unreasonable request.
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