Fossil fuel lending, including from central banks, can be redirected towards clean energy, and public finance and ownership can bankroll the infrastructure for delivering a clean energy transition and growing jobs.
This new handbook from The Transnational Institute presents many progressive proposals to build a just and future-proof financial system that can respond to the climate crisis, assess their potential impact, achievability and any associated drawbacks. Central to its message is that fossil fuel lending can be redirected towards clean energy and that public finance and ownership can bankroll and provide the infrastructure for delivering a clean energy transition and growing jobs.
The handbook covers problems and solutions for various levels of the financial system, including central banks, public and private banks, financial markets, and transnational corporations. Recommendations range from the creation of green development banks with a clear climate and social mandate to prioritize public and local initiatives, to credit policies by central banks and financial regulators to increase fossil-free lending and cut the flow of finance to the worst polluters.
The Transnational Institute is an international research and advocacy institute committed to building a just, democratic and sustainable planet. The organization's most recent financial disclosure can be found here.