MADRID, Nov 17 2022 (IPS)* – As much as wars –or even more–, climate disaster represents a great business opportunity, so don’t bother those who pour their fortunes into fueling them with talks about stopping it.
See what happens.
A new analysis of the “investments of 125 of the world’s richest billionaires shows that on average they are emitting 3 million tonnes a year, more than a million times the average for someone in the bottom 90% of humanity.” Credit: WA
Investing in wars
A couple of dozens of companies involved in manufacturing the most inhuman weapons of mass destruction– the nuclear warheads, have been supported by over 150 big banks by lending them money or underwriting bonds, according to the Nobel Peace Laureate International Campaign to Abolish Nuclear Weapons (ICAN).
(Greenpeace International)* — Since the Paris Agreement was signed in 2015, it has only become less likely that the world will meet that pact’s goals. Emissions must now be halved by the end of this decade to avoid the worst impacts of the climate crisis.
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Don’t Gas Africa Event during COP27. Campaigners call for an end to fossil-fuel-induced energy apartheid in Africa and ask to scale up cost-effective, clean, decentralized, renewable energy to end energy exclusion and meet the needs of Africa’s people.
Making finance flows and services consistent with this pathway is essential not only for the planet, but for the financial sector itself. Munich Re, the world’s largest reinsurance company, adopted a new policy last month excluding oil insurance and reinsurance.
It’s not a single actor: As of October, 41 insurers — including industry heavyweights such as Allianz, Munich Re and Swiss Re — representing 39% of the market for primary insurance and 62% for reinsurance had withdrawn or reduced cover for coal.
(UN News)* — Without urgent investment in climate mitigation and adaptation, countries in the Sahel risk decades of armed conflict and displacement, exacerbated by rising temperatures, scarcity of resources and food insecurity, the UN has warned in a report published on Wednesday [].
UN Photo/Eskinder Debebe | A displaced family walks through Ouallam camp in Niger.
Moving from Reaction to Action: Anticipating Vulnerability Hotspots in the Sahel, says that, left unchecked, the climate emergency will further imperil Sahelian communities as devastating floods, droughts and heatwaves decimate access to water, food and livelihoods, and amplify the risk of conflict.
This will ultimately force more people to flee their homes.
HUMAN WRONGS WATCH 