Africa’s largest lender has decided against funding three of the continent’s coal-power projects and committed to releasing a climate plan aligned with the goals of the Paris Agreement. But it is still lagging behind local peers, lobbyists say.
Momentum is gathering behind President Joe Biden’s environmental push, which includes a proposal for corporate climate disclosure. It will add a burden for companies, but the environmental risk of inaction could be a lot higher.
Aided by better science, climate change lawsuits have nearly doubled since 2018, posing a growing risk to businesses and governments failing to keep up their environment commitments.
Rainforest Action Network recently uncovered the levels of financial support still available to the fossil fuel sector. Further digging reveals a troubling relationship between bank policy and financing activity during 2020.
In his new book, the former central banker aims his observations on the climate crisis at the people with the power and money to make a difference. Can we expect them to listen?