Aligning finances to the new climate reality: fix finance, fix the climate
Our current linear extractive economy was not designed to include the five R’s—reduce, reuse, recycle, repair, and restore—so the environment has long become a dumping ground.
Bank of Canada Governor Tiff Macklem is pictured in Ottawa on Dec. 13, 2021. A Bank of Canada and Superintendent of Financial Institutions report recognizes that climate change looms as a potentially large structural change affecting our economy and financial system but remains silent on the other half of the problem: our current financial system fuels the climate crisis, writes Sen. Rosa Galvez. The Hill Times photograph by Andrew Meade