Pope Francis’s encyclical 'Laudato Si’' points to one undeniable fact: that human behavior is at the root of the ‘ecological crisis,’ and therefore at the heart of solving it.
Speaking during the 3rd Philippine Environment Summit on Friday, Bishop Gerardo A. Alminaza of the Diocese of San Carlos, Negros Occidental, said banks must have concrete plans to phase out coal finance consistent with the need to address the climate crisis.
The world now has less than 10 years left to prevent climate change from worsening further. Not doing so would cause irreversible damage to all life on Earth, a moral failure of unprecedented proportions.
The UN Principles for Responsible Banking are a guide for the global banking industry to respond to, drive and benefit from a sustainable development economy.
Philippine banks continue to finance the development of coal-fired power plants, which worsens global warming. If you or your family are one of the millions of clients of these banks, is this how you want your money to grow?