Big Banks Look for Profits Amid Global Temperature Rise
www.theenergymix.com
Banks are planning for a future where climate action fails and global temperatures rise as high as 3°C—but they’re still financing the fossil fuel projects driving that catastrophe, often through shared lending arrangements that make it harder to cut off funding for new oil and gas development.
    • Avid Amoeba@lemmy.ca
      4·
      5 days ago

      I don’t know if they don’t do fossil fuel investments, but at least in ON they’re regulated as nonprofits, so they gotta do less damage than the Big Five.

      I ditched the banks for Meridian in 2019 and the experience has been great. They had lower mortgage rates than TD’s employee rate.

    • turnip@lemm.eeEnglish
      1·
      5 days ago

      If we displaced coal do the coal plants just reopen, or does some other country ship the oil via cargo ship, or what would you expect to happen?

    • Avid Amoeba@lemmy.ca
      6·
      5 days ago

      At first glance. But at second, we’ll have to deal with the societal collapse of different parts of the world and the climate refugees coming to Canada. There’s some rate of refugees we can handle without our society buckling. Beyond that, we might face our own societal collapse. I hope we find ways to incorporate people into our economy instead. And then you have the US with a significant decline in its food production and significant drought, and too many weapons.