Sign Minnesota Banking Agreement Myself

Industry sign banking minnesota agreement myself

last week we discovered that since the landmark Paris climate agreement back in 2015 not only is the world so far failed to reduce carbon dioxide emissions but we actually managed to increase output by 1.6 percent in 2017 and another 2.7 percent last year to an all-time high at 37 billion tons here's another couple of factoids for you the Intergovernmental Panel on Climate Change was set up just over 30 years ago to help governments and societies make the right decisions to ensure a reduction in co2 levels and in that 30 years which seems like a blink of an eye to me the human race has spewed out more than half of all the carbon dioxide that's ever been emitted by the entire human race since modern humans walked out of Africa about a hundred thousand years ago in the space of three decades and you don't need me to tell you that one of the biggest culprits is the fossil fuel industry you probably don't need me to tell you that the PR machines of that industry have been denying obfuscating and generally covering up what they have known to be scientific fact for well over 50 years but despite running an incredibly sophisticated lying propaganda machine and operating a blatant oil cartel in plain sight the organization we know as OPEC to make sure they rinse all of it as much of our hard-earned cash as possible in recent years the fossil fuel companies have been pretty consistently out spending their revenues as they continue their relentless irrational and obsessive quest for more and more elusive reserves so why haven't they run out of cash and gone bankrupt leaving the way clear for renewable technologies to take over as they surely are going to do anyway well maybe it'll help if we go back one more time to the Paris climate Accord in 2015 because since that historic world-changing landmark geopolitical achievement barely four years ago the world's top banks have poured another one point nine trillion dollars into fossil fuel companies worldwide so can our banks kick their addiction to oil and gas before it's too late hello welcome to just have a think for about 30 years or so I banked with HSBC one of the world's oldest banks but then a couple of years ago when I started digging into the causes of our climate breakdown to prepare for starting this channel I discovered that just between 2016 and 2018 HSBC and invested nearly sixty billion dollars into coal oil tar sands and Arctic and deepwater drilling and it dawned on me that some of that investment money was my money my salary going into HSBC's copper's every month just like the salaries of millions and millions of other people an HSBC weren't leaving my money in my bank account because that's not what banks do they use it to make investments and the investments HSBC were making were directly contributing to the acceleration of our climate breakdown so I switch banks to one that doesn't do that quite straightforward the bank I chose to move to it's called Triodos it's not difficult to find out if your bank invest in fossil fuels in fact the answer is almost certainly yes unless you've made a concerted effort to really avoid them every single one of the top banks in the world are extremely heavily invested in the fossil fuel industry JP Morgan Chase are the world's worst offenders between 2016 and 2018 they pumped almost two hundred billion dollars of hard-working people's money into fossil fuels you can find this list for yourself our website called Bank track every year they produce a fossil fuel finance report card and these figures are taken from the 2019 report they check out almost all polluting forms of fossil fuel production worldwide and tell you exactly which banks are most heavily invested in those areas a fun game for all the family to play is reading the fluffy pr flannel at the websites of these big banks and then juxtaposing that against what they're actually doing behind your back not only will your kids pick up a new pond seaward Juxtapoz but they might also hopefully learn just what a duplicitous and dissing genuine people currently run global finance so what makes my new bank Triodos any different well let's find out from this guy he's called Kees vendrick he's the chief economist at Triodos and he believes it is precisely because banks have such a significant global impact that they also have a major opportunity to help decarbonize the economies of our planet and advance sustainable development in fact he's on a mission to build and strengthen a global consortium of alternative financial institutions who ensure all of their customers cash is divested out of fossil fuels and into renewable technologies and other environmentally responsible projects in 2018 alone Triodos financed about 800 million dollars worth of clean energy projects that prevented the equivalent of over nine hundred and eighty five million tons of carbon dioxide being released into the atmosphere and I think that's not bad and they're a bank that actually responded rationally to the challenges set out in the 2015 Paris agreement during that same year they joined with other pioneering Dutch financial institutions to form the partnership for carbon accounting financials or PCA F the group signed a Dutch carbon pledge committing its participants to create a standardized way to capture accurate information highlighting the genuine carbon footprints of financial institutions and not just the direct carbon footprints of the organization's themselves but a proper honest assessment of the much larger indirect carbon footprint associated with the loans and investments that they make PCA F methodology was published in 2017 and trade or started reporting using this approach in their 2018 annual report and if you're thinking oh yeah well it's all very well for the Dutch to have a fancy green banking institution in a flat country where they all wear clogs and ride bicycles and base their economy on growing plants half of which they smoke anyway and this sort of lily-livered liberal utopian idealism would be impossible to replicate anywhere else in the industrial world well you're wrong because there's already a global institution doing exactly that they're called the global alliance banking on values and they've been advancing positive change in the banking sector since 2009 if you've never heard of them then you're certainly not alone the mainstream banks and not members of this alliance and I can't imagine they've made much of an effort to mention the G abv to their own customers but take a look at the global map at the G ABV website they have member institutions all over the world albeit with the somewhat conspicuous absence of the BRIC countries of Brazil Russia India and China nevertheless you can go and check out each one of them for yourself whether you want the reassurance of financial stability by looking through their performance numbers or you just want to understand exactly what environmental projects they've been investing people's money in you can just click in and find out in a recent article keys vendrick outlined how back in February of this year 28 G ABV members representing a hundred and fifty billion US dollars in assets led by trialist bank and the u.s. institution Amalgamated Bank pledged to assess and disclose their greenhouse gas emissions within three years bringing carbon accounting firmly into the mainstream and it goes on to point out that in July of this year over 50 financial institutions in the Netherlands officially committed themselves to the goals of the Dutch climate agreement pledging to take measures to reduce co2 emissions by 49 percent by 2030 quite what they felt was wrong with 50 percent or frankly maybe a hundred percent I'm not quite sure but vendrick says the G ABV are pushing these institutions to start disclosing the carbon footprint of their combined 3,000 billion euros of funds under management by 2020 using the principles outlined in the partnership for carbon accounting financials he concludes by stressing that carbon accounting is a vital foundation for progress in fact it may well run hand in hand with carbon pricing and taxation as we move through the 21st century like everything else though that responsible environmentally conscious organizations are attempting right now to try to mitigate the worst effects of our climate emergency carbon accounting can't provide a complete solution to the challenge but it could set new standards for banking there will be a key element in the sector's efforts to play its part in addressing the emergency that faces all of us there should be no dark or light green banking says vendrick there should just be green banking and it should be the norm now at this point in a video it is of course crucial that I point out that I am NOT a financial adviser and therefore I cannot advise you on how to spend or invest your money or point out that switching to a green bank may very well be the easiest and most impactful climate mitigation move you could make this year and because I'm not a financial adviser it would be entirely inappropriate for me to strongly suggest that you immediately look into moving your monthly paycheck into amalgamated bank in America or Clearwater credit union in Canada Trio das or co-operative bank in the UK or teachers Mutual in Australia or whichever GA BV member Bank operates in your country and the fact that I've left a comprehensive list of direct links categorized by country to the join up pages of every single GA BV bank in the comment section below allowing you to seamlessly start the process of moving your money away from fossil fuels as soon as this video ends in no way constitutes any kind of endorsement of any particular bank or any kind of future financial planning strategy that you may wish to engage in no no that would be wholly wrong of me and I am therefore not going to do that good right well I think we've cleared that up but there is quite a strong clue as to my point of view in the title of this channel so you know that's it for this week if ever there was a week though that I would really ask you to share one of our videos I think he would definitely be this week imagine a world where everyone switched their banking to green banks and the infinite money stream that the fossil fuel industry is enjoyed for so many decades finally run dry so click on that like and share button and spread the word and if you want to support what we're doing here at the channel you can show that support by clicking on that icon there and subscribing which is completely free to do of course but it really does make a big difference to how well the YouTube's algorithms find our content as always thanks very much for watching have a great week and remember to just ever think see you next week