{"id":50879,"date":"2024-05-01T11:39:32","date_gmt":"2024-05-01T10:39:32","guid":{"rendered":"https:\/\/www.climatechangenews.com\/?p=50879"},"modified":"2024-05-01T11:39:32","modified_gmt":"2024-05-01T10:39:32","slug":"how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/","title":{"rendered":"How to fix the finance flows that are pushing our planet to the brink"},"content":{"rendered":"<p class=\"x_xparagraph\"><em><strong><span class=\"x_xnormaltextrun\">Teresa Anderson is global lead on climate justice for ActionAid International<\/span><span class=\"x_xeop\">.<\/span><\/strong><\/em><\/p>\n<p class=\"x_xparagraph\"><strong><span class=\"x_xnormaltextrun\">Last month, from Bangladesh to Kenya to Washington DC, over 40,000 activists in nearly 20 countries hit the streets calling on banks, governments and financial institutions to \u201c#FixTheFinance\u201d pushing the planet to the brink.<\/span><span class=\"x_xeop\">\u00a0<\/span><\/strong><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">It\u2019s clear that we can\u2019t address the climate crisis unless we fix the finance flows that are failing the planet. When we know that we have hardly any time left to avoid runaway climate breakdown, it\u2019s absurd that so much of the world\u2019s money is still being poured into fuelling climate change, while barely any is going to the solutions.<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">Let\u2019s face it \u2013 the climate crisis is really about money, and our choices to use it and make it in really stupid ways.\u00a0<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<blockquote><p><a href=\"https:\/\/www.climatechangenews.com\/2024\/04\/30\/g7-offers-tepid-response-to-appeal-for-bolder-climate-action\/\" target=\"_blank\" rel=\"noopener\"><strong>G7 offers tepid response<\/strong> to appeal for \u201cbolder\u201d climate action<\/a><\/p><\/blockquote>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">Many of the world\u2019s most powerful private banks are holding their Annual General Meetings over the next weeks. Banks like Barclays, HSBC and Citibank are pumping billions into fossil fuel expansion, knowing full well that their decisions directly lead to climate chaos and devastating local pollution, particularly for communities in Africa, Asia and Latin America.\u00a0At their AGMs they will undoubtedly celebrate their profits, self-congratulate on <\/span><a href=\"https:\/\/www.independent.co.uk\/business\/barclays-pledges-to-stop-directly-financing-new-oil-and-gas-projects-b2493528.html\" data-auth=\"NotApplicable\" data-linkindex=\"2\"><span class=\"x_xnormaltextrun\">miniscule policy tweaks<\/span><\/a><span class=\"x_xnormaltextrun\">, and try to ignore the clamour of climate criticism. \u00a0<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">ActionAid <\/span><a href=\"https:\/\/actionaid.org\/publications\/2023\/how-finance-flows-banks-fuelling-climate-crisis\" data-auth=\"NotApplicable\" data-linkindex=\"3\"><span class=\"x_xnormaltextrun\">research last year<\/span><\/a><span class=\"x_xnormaltextrun\"> showed that these banks are financing an astonishing amount of fossil-fuel and industrial agriculture activities in the Global South, causing land grabs, deforestation, water and soil pollution and loss of livelihoods \u2013 all compounding the injustice to communities also getting routinely hit by droughts, floods and cyclones thanks to climate change. <\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">HSBC, for example, is the largest European financer of fossil fuels and agribusiness in the Global South. Barclays is the largest European bank financier to fossil fuels around the world. <\/span>And Citibank is the largest US financier of fossil fuels in the Global South. The banks have so much power, and so much culpability, much more than most people realise. But they want us to forget the fact that they are working hand in hand with, and profiting from, the industries that are wrecking the planet.\u00a0<span class=\"x_xeop\">\u00a0<\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">The banks can actually turn off the taps. They can end the finance flows that are fuelling the climate crisis. So to avert catastrophic climate change, the fossil-financing banks must start saying no to the corporations destroying the planet.\u00a0<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">But it\u2019s not only private finance that is flawed \u2013 public funds are being misused as well. Governments are using far more of their public funds to provide subsidies or tax breaks for fossil fuels and industrial agriculture corporations, than they are for climate action. This is ridiculous \u2013 it\u2019s hurting the planet, and its hurting people.\u00a0<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">Public funds instead need to be redirected towards just transitions that address climate change and inequality.\u00a0<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">There is growing appetite for climate action. But this just isn\u2019t yet matched by willingness to pay for it. Or even to stop profiting from climate destruction.<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<h3>COP29 finance goal<\/h3>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">This year\u2019s COP29 climate talks will be a critical test of rich countries\u2019 commitment to securing a liveable planet. The world\u2019s poorest countries are already bearing the spiralling costs of a warming planet. So far they have only received begrudging, tokenistic pennies from the rich polluting countries to help them cope. The offer of <\/span><a href=\"https:\/\/www.france24.com\/en\/environment\/20231212-how-lending-based-climate-finance-is-pushing-poor-countries-deeper-into-debt\" data-auth=\"NotApplicable\" data-linkindex=\"4\"><span class=\"x_xnormaltextrun\">loans instead of grants in the name of climate finance<\/span><\/a><span class=\"x_xnormaltextrun\"> is just rubbing salt into the wounds.<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">If we want to unleash climate action on a scale to save the planet, rich countries at COP29 will need to agree a far more ambitious new climate finance goal based on grants, not loans.<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">Because if we want to save our planet, we will actually need to cover the costs.<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<blockquote><p><a href=\"https:\/\/www.climatechangenews.com\/2024\/04\/25\/tensions-rise-over-who-will-donate-to-new-climate-finance-goal\/\" target=\"_blank\" rel=\"noopener\"><strong>Tensions rise over<\/strong> who will contribute to new climate finance goal<\/a><\/p><\/blockquote>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">Last month\u00a0the International Monetary Fund and the World Bank held their Spring meetings in Washington DC. These institutions are powerful symbols of the planet\u2019s dysfunctional finance systems which urgently need fixing. The World Bank is <\/span><a href=\"https:\/\/www.theguardian.com\/environment\/2023\/sep\/12\/world-bank-spent-billions-of-dollars-backing-fossil-fuels-in-2022-study-finds\" data-auth=\"NotApplicable\" data-linkindex=\"5\"><span class=\"x_xnormaltextrun\">financing fossil fuels<\/span><\/a><span class=\"x_xnormaltextrun\"> yet being extremely secretive about it. The IMF is pushing climate-devastated countries deeper into debt that often requires further fossil extraction for repayment. <\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">Even\u00a0as they brand themselves as responsible <\/span><a href=\"https:\/\/www.climatechangenews.com\/2024\/04\/16\/world-bank-climate-funding-greens-african-hotels-while-fishermen-sink\/\" data-auth=\"NotApplicable\" data-linkindex=\"6\"><span class=\"x_xnormaltextrun\">channels for climate finance<\/span><\/a><span class=\"x_xnormaltextrun\">, the world\u2019s most powerful financial institutions are pushing our planet to the brink. Their stated aim to get \u201cbigger and better\u201d really amounts to all-out push to get \u201cbigger\u201d but\u00a0only token tweaks to get \u201cbetter\u201d.\u00a0 The Spring meetings ended with business-as-usual backslapping. But if they were taking climate change and its consequences seriously,\u00a0at the very least, the IMF and World Bank would stop financing fossil fuels and <\/span><a href=\"https:\/\/www.aljazeera.com\/opinions\/2023\/4\/27\/want-to-fix-the-climate-end-debt-traps\" data-auth=\"NotApplicable\" data-linkindex=\"7\"><span class=\"x_xnormaltextrun\">cancel the debts<\/span><\/a><span class=\"x_xnormaltextrun\"> that are pushing climate-vulnerable countries into a <\/span><a href=\"https:\/\/actionaid.org\/publications\/2023\/vicious-cycle\" data-auth=\"NotApplicable\" data-linkindex=\"8\"><span class=\"x_xnormaltextrun\">vicious cycle<\/span><\/a><span class=\"x_xnormaltextrun\">. <\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<blockquote><p><a href=\"https:\/\/www.climatechangenews.com\/2024\/04\/25\/will-blossom-of-reform-bear-fruit-spring-meetings-leave-too-much-to-do\/\" target=\"_blank\" rel=\"noopener\"><strong>Will blossom of reform<\/strong> bear fruit? Spring Meetings leave too much to do<\/a><\/p><\/blockquote>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">All of these finance flows need fixing. At the moment, the global financial system is better designed to escalate \u2013 rather than address \u2013 climate change, vulnerability and inequality.\u00a0The activists, youth and frontline communities\u00a0who filled the streets last month hope that their calls to stop financing destruction will be heard in the boardrooms and conferences on the other side of the world.<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n<p class=\"x_xparagraph\"><span class=\"x_xnormaltextrun\">They say that money talks. This is the year that the climate movement is going to make sure it listens.\u00a0<\/span><span class=\"x_xeop\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Commercial banks are financing a huge amount of fossil-fuel and industrial agriculture activities in the Global South &#8211; they must turn off the tap","protected":false},"author":196,"featured_media":50881,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3863,4228,3861,5130],"tags":[3892,3884,214,4862,2394,1053],"coauthors":[4510],"class_list":["post-50879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-climate-justice","category-comment","category-cop29","tag-banks","tag-climate-finance","tag-finance","tag-fossil-fuel-finance","tag-imf","tag-world-bank","type-comment"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to fix the finance flows that are pushing our planet to the brink<\/title>\n<meta name=\"description\" content=\"Commercial banks are financing a huge amount of fossil-fuel and industrial agriculture activities in the Global South - they must turn off the tap Too much money is still being poured into fuelling climate change, while barely any is going to the solutions\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to fix the finance flows that are pushing our planet to the brink\" \/>\n<meta property=\"og:description\" content=\"Commercial banks are financing a huge amount of fossil-fuel and industrial agriculture activities in the Global South - they must turn off the tap Too much money is still being poured into fuelling climate change, while barely any is going to the solutions\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate Home News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ClimateHomeNews\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-01T10:39:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.climatechangenews.com\/files\/2024\/05\/01113121\/FixtheFinance-demo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Teresa Anderson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ClimateHome\" \/>\n<meta name=\"twitter:site\" content=\"@ClimateHome\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Teresa Anderson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/\"},\"author\":{\"name\":\"Megan Rowling\",\"@id\":\"https:\/\/www.climatechangenews.com\/#\/schema\/person\/7a9017ad3e6e3573dfa7c5cbf102adf7\"},\"headline\":\"How to fix the finance flows that are pushing our planet to the brink\",\"datePublished\":\"2024-05-01T10:39:32+00:00\",\"dateModified\":\"2024-05-01T10:39:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/\"},\"wordCount\":903,\"publisher\":{\"@id\":\"https:\/\/www.climatechangenews.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.climatechangenews.com\/files\/2024\/05\/01113121\/FixtheFinance-demo.jpg\",\"keywords\":[\"banks\",\"Climate finance\",\"Finance\",\"Fossil fuel finance\",\"IMF\",\"World Bank\"],\"articleSection\":[\"Climate finance\",\"Climate justice\",\"Comment\",\"Cop29\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/\",\"url\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/\",\"name\":\"How to fix the finance flows that are pushing our planet to the brink\",\"isPartOf\":{\"@id\":\"https:\/\/www.climatechangenews.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.climatechangenews.com\/files\/2024\/05\/01113121\/FixtheFinance-demo.jpg\",\"datePublished\":\"2024-05-01T10:39:32+00:00\",\"dateModified\":\"2024-05-01T10:39:32+00:00\",\"description\":\"Commercial banks are financing a huge amount of fossil-fuel and industrial agriculture activities in the Global South - they must turn off the tap Too much money is still being poured into fuelling climate change, while barely any is going to the solutions\",\"breadcrumb\":{\"@id\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#primaryimage\",\"url\":\"https:\/\/cdn.climatechangenews.com\/files\/2024\/05\/01113121\/FixtheFinance-demo.jpg\",\"contentUrl\":\"https:\/\/cdn.climatechangenews.com\/files\/2024\/05\/01113121\/FixtheFinance-demo.jpg\",\"width\":1280,\"height\":853,\"caption\":\"Climate activists, youth and frontline communities took to the streets around the world in April to demand that countries and companies #FixtheFinance. (Photo: ActionAid)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.climatechangenews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How to fix the finance flows that are pushing our planet to the brink\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.climatechangenews.com\/#website\",\"url\":\"https:\/\/www.climatechangenews.com\/\",\"name\":\"Climate Home News\",\"description\":\"Climate change news, analysis, commentary, video and podcasts focused on developments in global climate politics\",\"publisher\":{\"@id\":\"https:\/\/www.climatechangenews.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.climatechangenews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.climatechangenews.com\/#organization\",\"name\":\"Climate Home News\",\"url\":\"https:\/\/www.climatechangenews.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.climatechangenews.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cdn.climatechangenews.com\/files\/2024\/01\/03155729\/Climate-Home-News-Logo-RGB-Colour.png\",\"contentUrl\":\"https:\/\/cdn.climatechangenews.com\/files\/2024\/01\/03155729\/Climate-Home-News-Logo-RGB-Colour.png\",\"width\":2856,\"height\":862,\"caption\":\"Climate Home News\"},\"image\":{\"@id\":\"https:\/\/www.climatechangenews.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/ClimateHomeNews\/\",\"https:\/\/x.com\/ClimateHome\",\"https:\/\/www.linkedin.com\/company\/climate-home-news\",\"https:\/\/www.youtube.com\/user\/climatestudio\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.climatechangenews.com\/#\/schema\/person\/7a9017ad3e6e3573dfa7c5cbf102adf7\",\"name\":\"Megan Rowling\",\"url\":\"https:\/\/www.climatechangenews.com\/author\/megan-rowling\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How to fix the finance flows that are pushing our planet to the brink","description":"Commercial banks are financing a huge amount of fossil-fuel and industrial agriculture activities in the Global South - they must turn off the tap Too much money is still being poured into fuelling climate change, while barely any is going to the solutions","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/","og_locale":"en_GB","og_type":"article","og_title":"How to fix the finance flows that are pushing our planet to the brink","og_description":"Commercial banks are financing a huge amount of fossil-fuel and industrial agriculture activities in the Global South - they must turn off the tap Too much money is still being poured into fuelling climate change, while barely any is going to the solutions","og_url":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/","og_site_name":"Climate Home News","article_publisher":"https:\/\/www.facebook.com\/ClimateHomeNews\/","article_published_time":"2024-05-01T10:39:32+00:00","og_image":[{"width":1280,"height":853,"url":"https:\/\/cdn.climatechangenews.com\/files\/2024\/05\/01113121\/FixtheFinance-demo.jpg","type":"image\/jpeg"}],"author":"Teresa Anderson","twitter_card":"summary_large_image","twitter_creator":"@ClimateHome","twitter_site":"@ClimateHome","twitter_misc":{"Written by":"Teresa Anderson","Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#article","isPartOf":{"@id":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/"},"author":{"name":"Megan Rowling","@id":"https:\/\/www.climatechangenews.com\/#\/schema\/person\/7a9017ad3e6e3573dfa7c5cbf102adf7"},"headline":"How to fix the finance flows that are pushing our planet to the brink","datePublished":"2024-05-01T10:39:32+00:00","dateModified":"2024-05-01T10:39:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/"},"wordCount":903,"publisher":{"@id":"https:\/\/www.climatechangenews.com\/#organization"},"image":{"@id":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#primaryimage"},"thumbnailUrl":"https:\/\/cdn.climatechangenews.com\/files\/2024\/05\/01113121\/FixtheFinance-demo.jpg","keywords":["banks","Climate finance","Finance","Fossil fuel finance","IMF","World Bank"],"articleSection":["Climate finance","Climate justice","Comment","Cop29"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/","url":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/","name":"How to fix the finance flows that are pushing our planet to the brink","isPartOf":{"@id":"https:\/\/www.climatechangenews.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#primaryimage"},"image":{"@id":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#primaryimage"},"thumbnailUrl":"https:\/\/cdn.climatechangenews.com\/files\/2024\/05\/01113121\/FixtheFinance-demo.jpg","datePublished":"2024-05-01T10:39:32+00:00","dateModified":"2024-05-01T10:39:32+00:00","description":"Commercial banks are financing a huge amount of fossil-fuel and industrial agriculture activities in the Global South - they must turn off the tap Too much money is still being poured into fuelling climate change, while barely any is going to the solutions","breadcrumb":{"@id":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#primaryimage","url":"https:\/\/cdn.climatechangenews.com\/files\/2024\/05\/01113121\/FixtheFinance-demo.jpg","contentUrl":"https:\/\/cdn.climatechangenews.com\/files\/2024\/05\/01113121\/FixtheFinance-demo.jpg","width":1280,"height":853,"caption":"Climate activists, youth and frontline communities took to the streets around the world in April to demand that countries and companies #FixtheFinance. (Photo: ActionAid)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.climatechangenews.com\/2024\/05\/01\/how-to-fix-the-finance-flows-that-are-pushing-our-planet-to-the-brink\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.climatechangenews.com\/"},{"@type":"ListItem","position":2,"name":"How to fix the finance flows that are pushing our planet to the brink"}]},{"@type":"WebSite","@id":"https:\/\/www.climatechangenews.com\/#website","url":"https:\/\/www.climatechangenews.com\/","name":"Climate Home News","description":"Climate change news, analysis, commentary, video and podcasts focused on developments in global climate politics","publisher":{"@id":"https:\/\/www.climatechangenews.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.climatechangenews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.climatechangenews.com\/#organization","name":"Climate Home News","url":"https:\/\/www.climatechangenews.com\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.climatechangenews.com\/#\/schema\/logo\/image\/","url":"https:\/\/cdn.climatechangenews.com\/files\/2024\/01\/03155729\/Climate-Home-News-Logo-RGB-Colour.png","contentUrl":"https:\/\/cdn.climatechangenews.com\/files\/2024\/01\/03155729\/Climate-Home-News-Logo-RGB-Colour.png","width":2856,"height":862,"caption":"Climate Home News"},"image":{"@id":"https:\/\/www.climatechangenews.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ClimateHomeNews\/","https:\/\/x.com\/ClimateHome","https:\/\/www.linkedin.com\/company\/climate-home-news","https:\/\/www.youtube.com\/user\/climatestudio"]},{"@type":"Person","@id":"https:\/\/www.climatechangenews.com\/#\/schema\/person\/7a9017ad3e6e3573dfa7c5cbf102adf7","name":"Megan Rowling","url":"https:\/\/www.climatechangenews.com\/author\/megan-rowling\/"}]}},"_links":{"self":[{"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/posts\/50879"}],"collection":[{"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/users\/196"}],"replies":[{"embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/comments?post=50879"}],"version-history":[{"count":4,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/posts\/50879\/revisions"}],"predecessor-version":[{"id":50884,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/posts\/50879\/revisions\/50884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/media\/50881"}],"wp:attachment":[{"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/media?parent=50879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/categories?post=50879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/tags?post=50879"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/coauthors?post=50879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}