A new analysis reveals that banks use deposits to make loans to carbon-intensive industries, creating emissions equivalent to a flight from NYC to Seattle for every $1,000 in an account. According to the IPCC, there are $12 trillion worth of stranded assets to keep global warming under 2C, with an additional 220 airbuses' worth being added. This underscores the significance of divestment, as highlighted by Bill McKibben.
Banks Use Your Deposits To Loan Money To Fossil-Fuel, Emissions-Heavy Firms https://t.co/aAgLY6qSD4
Banks use your deposits to loan money to fossil-fuel, emissions-heavy firms https://t.co/FH3ZiIVhkz
“Banks use your deposits to make loans to carbon-intensive industries. $1,000 in your account creates emissions equal to a flight from NYC to Seattle.” This is wild, and it shows the @billmckibben was right: divestment matters. Read more: https://t.co/dfIVGTYCua
Accoeding to the @IPCC_CH , we already have 12 teillion USD worth of stranded assets if we are to keep gkibal warming under 2C. We are just adding 220 more airbus worth to that sum. https://t.co/54etnLdAWr
Banks use your deposits to make loans to carbon-intensive industries. A new analysis finds that $1,000 in your account creates emissions equal to a flight from NYC to Seattle. https://t.co/p3eaFsyHoG