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Business Daily: Does 'Green Finance' offer a solution to climate change?

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12/11/2020 GMT

Does 'Green Finance' offer a solution to climate change?

BBC World Service - Business Daily, Does 'Green Finance' offer a solution to climate change?

Big names in the finance think they can reverse capitalism’s effect on the planet

Ahead of the 2021 Climate Change Conference, big names in the world of finance are banding together to create ways to reduce greenhouse gas emissions. With new improved carbon offset markets, monitoring and standardisation of emissions goals and an emphasis on channelling capital to projects based on renewable energy, evangelists of so-called 'Green Finance' believe capitalism can reinvent itself to the benefit of the planet. Rhian-Mari Thomas, chief executive of the Green Finance Institute and convenor of the just-finished Green Horizons Summit, outlines the vision. May Boeve of the environmental group 350.org says much of capital is still directed towards climate-damaging industries. And Bill Winters, chief executive of Standard Chartered, explains how an effective carbon offset market would work.

Produced by Frey Lindsay.

(Picture credit: Getty Images.)

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