Net Zero Banking

Positively Impact Climate Change With Your Bank Account

By AMANDA THEISEN, Sunrise Banks

The warnings about the effects of climate change have become more frequent – and more dire – over the past several years. We’ve seen those impacts play out across the globe, such as more frequent wildfires, flooding, extreme heat, melting glaciers, and shrinking coastlines. You’ve likely heard more extreme predictions if countries don’t take drastic measures to lower their carbon emissions.
Achieving global net zero emissions by the year 2050, as outlined in the Paris Climate Agreement, may seem out of reach to some. Despite that, many people and companies in Minnesota are making necessary changes to lower their own carbon footprint. Using other forms of transportation other than cars, installing solar panels, buying energy efficient appliances and reducing plastic waste are just some of the actions you and your neighbors may have already taken.

THE ROLE BANKS PLAY

A growing area of interest when it comes to lowering carbon emissions is the financial industry. According to Project Drawdown, https://drawdown.org/, big banks in the U.S. lend as much as 20-30 percent of their portfolio to carbon-intensive sectors, such as big oil. Most people don’t realize their own bank accounts are funding these industries and that it may be a significant source of carbon emissions.… Read the rest “Net Zero Banking”