Our financial system is currently fuelling climate collapse. British banks like Barclays and HSBC are the worst in Europe, lending over $85bn and $57bn respectively towards some of the most environmentally destructive fossil fuels in the first three years since the Paris climate agreement in 2015. Meanwhile oil, mining and gas companies dominate the FTSE 100, with Shell and BP the first and third highest value companies listed. At least 15% of potential CO2 emissions can be traced back to the City of London.
While finance pushes in the other direction, we have a vanishingly small timeframe to reduce carbon emissions to zero to avoid the worst effects of climate breakdown. Huge amounts of investment will be needed if we are to decarbonise the economy with a just transition that ensures workers don’t lose out, under a Green Industrial Revolution or Green New Deal. How are we going to pay for it?
This panel discussion, hosted by Positive Money in partnership with ethical bank Triodos will bring together MPs and experts to answer how a Labour Government can get finance out of fossil fuels and mobilise both public and private funds towards a just green transition.
Ann Pettifor - economist and author of 'The Case for The Green New Deal' (Verso, Oct 2019)
Chi Onwurah MP - Labour Shadow Minister for Industrial Strategy
Anneliese Dodds MP - Labour Shadow Treasury Minister
Grace Blakeley - New Statesman economics commentator and author of 'Stolen' (Repeater, Sep 2019)
Fran Boait - executive director of Positive Money and Labour prospective parliamentary candidate
Bevis Watts - CEO of Triodos Bank UK
Adrienne Buller - Policy director, Labour for a Green New Deal
And more TBC.
This event is free to attend without a conference pass. Food and drink provided.
Labour for a Green New Deal