Reckless corporations are responsible for our current climate crisis - just 100 companies produce 71% of global carbon emissions. They make huge profits while destroying our planet - and they lobby our politicians to keep it that way.
But there is hope. EU-leaders pledged to make Europe’s economy cleaner, healthier and safer - and 100% carbon neutral by 2050.
The EU is ready to pass a key law to start the transition process. It would be the first ban on this scale on finance greenwashing, and would set a global standard, so that “green investments” have to really be green.
With public pressure mounting during last month’s worldwide climate strike, and final talks about to start, now’s our moment to push EU leaders to stick to their promise and move towards a green economy!
More money than the US, Germany, UK, France and Spain make in a year combined are being managed in so-called “green funds”. But many of these so-called ‘green’ funds are anything but green. Money-hungry investors label companies, like big-polluter ExxonMobile, as “green”.
To end this dirty practice, the EU has adopted the EU Action Plan to meet its international obligations, including a 40% cut in greenhouse gas emissions. As a first step toward this ambitious goal, the EU will set clear and strict ecological standards for “green investment” - the world’s first ban on finance greenwashing.
Also, the EU plans to implement tougher investors’ duties and disclosures and better advice to clients to encourage them to make greener investments. EU politicians are certain that this will lead to trillions being invested to build a cleaner and eco-friendly economy - and eventually save our planet.
After years of preparation, the first part of this plan is about to become a law. This will be the first law on this scale in history to stop finance greenwashing. If we get this right, countries around the world are likely to follow suit. But huge investors are already lobbying EU-leaders to substantially weaken the law. And EU-leaders are now considering loopholes for nuclear power and even postponing the law.