When will the business elite walk the talk?
4th Feb. 2020
The elite attendees at the Davos forum can talk a good talk on sustainability but, with other business leaders and investors, many are happy to leave actual change to others.
By Rod Oram for Newsroom
January 26 2020
When Dutch writer Rutger Bregman noted in a Davos session that 1,500 private jets had brought delegates to hear David Attenborough lament the failing health of the planet, he wasn’t invited back the following year. It’s a telling illustration of how little the Davos elite likes to be challenged when it comes to the reality of decreasing carbon emissions and dealing with systemic global inequality.
However, while most governments are failing to address the shock to the global economy of reaching a 1.5c temperature increase, regulators are increasingly active. The Bank of England, for example, has begun climate stress testing banks. And across the UK banking sector, loan exposure to fossil fuel producers and other "brown assets" considered detrimental to the environment equal 70 percent of banks’ Tier One, common equity, capital.
Greta Thunberg to Davos: 'nothing has been done on climate change' -