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> “The problem we face today is that too many banks are failing to consider climate harm when they make financing decisions, and too much money is being ploughe
by baryphonic 6y ago
> “The problem we face today is that too many banks are failing to consider climate harm when they make financing decisions, and too much money is being ploughed into carbon-intensive activities that we so desperately need to move away from,” said Natasha Landell-Mills, head of stewardship at UK asset manager Sarasin & Partners.
The question remains: how will you do activities like e.g. making steel in a "green" manner? Moving money around cannot alone answer that question; finance can only help by moving money toward new technology that can perform the jobs of the old, non-green tech. What are these investors willing to invest in to make the needed tech?
- HDMI_Cable 6y agoI'm guessing initiatives like cap-and-trade programs or carbon offsets for heavy polluters could also be done.
- lumost 6y agoMany modern steel plants already use electric arc furnaces originally developed for aluminum manufacture in the 30s and 40s. There is no inherent reason not to collocate steel plants with plentiful renewable energy. As energy is one of the primary input costs to steel manufacture, it should be practical to develop “peaker” plants which take advantage of the midday energy cost dips due to solar.
- mistrial9 6y agosee Industrial Ecology https://en.wikipedia.org/wiki/Industrial_ecology https://en.wikipedia.org/wiki/Industrial_ecology
- adrianN 6y agoSteel can use electricity for heat and hydrogen for reduction. There are some things where we don't know of good replacemets (e.g. concrete, aviation), but steel is not a good example. In any case, if we get rid of fossil fuels everywhere where it's easy (electricity, heating, mobility except for flying), then we have a lot larger budget for figuring out how to do the things where it's not easy.