The Finance Sector and Climate Change: Constraining Credit for Coal
English
By (author): Aynsley Kellow
A common claim is that fossil fuel interests thwart sound policy on climate change, but this book shows any funding of contrarian groups is outdone by the financial sector, supporting the conduct of science, the operation of environment groups, alarmist media reporting and the conduct of politics to serve the activities in which they have investedinitially natural gas but latterly renewables. This support is often channelled through 'pass through' funds in what has been described as 'philanthrocapitalism'. One example is Covering Climate Now, a cartel of news media outlets, ensuring a perception of 'climate crisis' is maintaineddespite the absence of evidence of a crisis. The result has been the imposition of restrictions of finance for coal by the World Bank and by the OECD, with the latter described for the first time in this book. This has worked to the advantage of China and harmed the developing world.
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