Here are the key financial institutions that can help prevent climate ‘tipping point,’ per new study
"A fascinating
new study is seeking to recast the debate on how best to combat climate change, identifying a handful of financial institutions that could play an outsized role in preventing the Earth’s climate from tipping into runaway warming.
The study, published in the latest issue of
Global Environmental Change, determined that a relatively small number of financial institutions — from American investment firms to Norwegian sovereign wealth funds to Swiss banks — can help build the resilience of some of the main geographic areas key to stabilizing the Earth’s climate: the Brazilian Amazon and boreal forests in Russia and Canada.
“And this is the result of a bigger change in the global economy: the concentration of power through equity in the hands of major asset managers in the U.S.” Many of the significant holdings are held by a trio of the largest passive asset managers in the world: BlackRock, Vanguard, and State Street. "
Unfortunately, asking these capitalists to give up profits to save the earth is probably futile.