Divestment is banks’ best tool for net zero

Philadelphia, one of the US cities engulfed by smoke from Canadian wildfires in June. Stegeman wonders how US politicians and bankers could see it and yet not question the physical risks of investment decisions (Photo: Hannah Beier/Bloomberg)

Climate pledges and greenwashing regulation are a distraction from concrete divestment targets, according to Hans Stegeman, chief economist at Triodos Bank. Temperature records on land and at sea are being broken at an alarming pace, shows research from the World Meteorological Organization, a UN agency, as the impacts of climate ...

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