Friday 14th November) Commenting on COP30 in Belém, Brazil, and the role the finance sector must play to turbocharge the transition to net zero, Jackie Garton, Head of Corporate Climate Campaigns, said:
"Alongside governments who set the rules, the finance sector has a crucial role to play in powering climate action. Yet, financial institutions remain deeply complicit in driving the many environmental problems we face by pouring money into harmful climate changing activities.
"The clock is ticking with global warming on track to breach the 1.5C climate target, but the finance sector can help tip the balance if we wean it off its addiction to fossil fuels. This year, the planet became too warm to sustain coral reefs, with devastating consequences for marine eco-systems and the communities that rely upon them. As we inch closer to further tipping points, there can be no doubt that the only course of action is to accelerate the transition to a low carbon economy. It's in the best interests of us all, including financial institutions and businesses, to do so – and every fraction of a degree matters."
