[World Council of Churches] During Building Bridges Action Days, featuring high-level dialogues and interventions from thought leaders about the future of finance, the World Council of Churches spoke out about why the world must accelerate investments into renewable energies.
Frederique Seidel, WCC senior advisor on child rights, noted that there are 425 new fossil fuel expansion projects — “carbon bombs” — threatening to completely undo progress around curbing harmful emissions. But investors can change this trajectory, she urged.
“Although CO2 emissions currently continue going up for now, there is hope, because of the still largely untapped, and most powerful lever of climate-responsible banking,” she said. “Fiduciary duty is not an obstacle but a reason to accelerate shift to renewable energy.”
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