Could –‘dual interest rates’– where green activities attract lower rates than dirty ones be implemented by central banks?
Some investment managers are resisting short-term profits from fossil fuels. However, overall for every dollar invested in fossil fuel supply, seventy three cents supported low carbon energy (and this ratio is getting worse).
A new report finds that asset managers’ engagement on climate issues is ‘cosmetic at best’. Meanwhile, the ECB finds that global banks are over-playing their net zero commitments.
Good, therefore that students are boycotting careers in Barclays over its climate failings, and churches and religious charities won’t bank with them, and Cambridge University is considering following suit.
Inequality and integrity
The annual Oxfam stats estimate that since 2020 the richest five men in the world have doubled their wealth, while five billion people have become poorer. Here’s a new report on how wealth inequality is driven by monopoly power – and a case study on finance and monopoly.
The last time the ratio of average earnings to house prices was this bad was 1876.