The financial system must be completely overhauled to stop climate chaos. Fossil fuel lending can be redirected towards green energy to protect people and the planet. Challenging the role of “big finance” will require political intervention rather than mere technical fixes. Public finance can take a lead by bankrolling a Green New Deal, placing democratic control and equitable access to common goods and services at the heart of investment. This new handbook is an indispensable guide to climate activists and policy-makers alike towards a complete overhaul of the financial system to stop climate chaos. Central to its message is that fossil fuel lending can be redirected towards green energy and that public finance and ownership can bankroll and provide the infrastructure for delivering a Green New Deal.
By Oscar Reyes. Transnational Institute. June, 2020.
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