Filthy Banking

(reposted from Rabbi Nina Beth Cardin's blog:

You would hardly know that in Durban, many of 194 party members of the United Nations Framework for Climate Change are meeting for the 17th COP (Conference of the Parties) to continue to explore how to save the planet from itself.

This is the group that brought us the Kyoto Protocol in 1997 which sought to limit the amount of greenhouse gases the world emits. The UNFCCC has posted videos of key presentations and links to various reports. And more are coming.

In concert with this annual event, four environmentally-concerned organizations have issued their own Bankrolling Climate Change report, which studies the coal-heavy investments of many of the world's leading banking institutions.

Truth be told, it makes only the tiniest difference if your bank says it is "green" as it saves millions of pieces of paper (and millions of dollars) through on-line banking services if it still invests billions in dirty, destructive, dislocating coal-mining practices that destroy millions of acres of trees, foul the air with coal ash, force abandonment and relocation of tens of thousands and continue to spew CO2 into the atmosphere instead of investing in the next generation of essential life-sustaining energy.

This study is chock full of frightening information, such as, if China alone continues on its present pace of increasing the mining and burning of coal, by 2030 it will be spewing out as much CO2 emissions into the atmosphere as the whole world is doing now.

The report is a call to investors like you and me around the world to hold our banks to account.

Find out if your bank is one of the main investors in continuing to promote this fatal technology. And if it is, put your money where your mouth is.

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