Davos 2020: Greta Thunberg demands urgent action on climate emergency – Day One live // Greenpeace hits out at Davos banks for $1.4tn climate hypocrisy
Davos 2020: Greta Thunberg demands urgent action on climate emergency – Day One live
Greta Thunberg cites
the IPCC report on climate change from 2018, which explained how few years are
left to act if there’s a 67% chance of keeping the global temperature rise to
below 1.5%. With today’s
emissions levels, the remaining budget is gone in less than eight years. These aren’t
anyone’s views, this is the science. Thunberg adds that
such forecasts doesn’t include feedback loops and tipping points, and also
often assume that “future generations will somehow suck hundreds of billions of
tonnes of CO2 out of the atmosphere, even though such technology doesn’t exist
yet.” She tells Davos: I’ve been repeating
these numbers at nearly every speech I’ve given for the last 18 months. I know you don’t want
to report about these numbers, but I’ll keep saying them until you do, Thunberg
concludes....
Greenpeace hits out at Davos banks for $1.4tn climate hypocrisy
The world’s leading financial institutions have been accused of hypocrisy over the climate emer-gency, after providing significant support for the fossil fuel industry over the last five years. A report by Greenpeace, the environmental group, highlights that 24 banks which regularly attend the World Economic Forum in Davos have provided $1.4tn (£1.1tn) of financial support for the hydrocarbon sector since the Paris agreement set new emissions reduction goals in 2015. The financial cooperation with fossil fuel firms includes loans, debt underwriting, equity issuances and direct investment. The report, called It’s the Finance Sector, Stupid, also shows how some major insurers and pension funds that flock to Davos each year are key supporters of polluting industries such as coal....
