As more and more institutions and people are divesting from fossil fuels globally, climate responsible finance is booming. Part of this revolution is the meteoritic growth of green bonds, which were started in 2007 by the World Bank and the European Investment Bank.
I was right earlier on when I stated that it was up to us after the Lima Minima. Companies, cities and communities need to act on climate change and luckily they do as the United Nations reported recently.
$5.3 trillion (or 4.7 trillion euros) : those are staggering figures as they amount to $10 million every single minute. The figures come from the International Monetary Fund, so one can be pretty sure of them.
Yes, you read that right, it’s billion, with a B, like a thousand million… Now this is further proof that cleantech and renewables DO make sense financially. Otherwise, why would such a bank invests so much in them ?
According to Bloomberg New Energy Finance global investments in clean energy such as wind and solar bounced back in 2014 with an increase of 16 percent over 2013. They reached $310 billion (260 billion euros).
We have seen that divesting from oil companies is a moral question but it is also a sound economic advice as more and more financial analyst are saying, to the point of ” fossil fuels are the next subprime danger “ as I blogged last year.