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Giant Spanish Bank spends €100 b on Earth’s weather, cos they are nice people

Posted By Jo Nova On March 9, 2018 @ 4:00 am In Global Warming | Comments Disabled

This absolutely definitely is not about profits or money.

Giant Spanish bank announces €100 billion plan to fight climate change

BBVA, the second largest bank in Spain, has launched a major new financing initiative to support sustainable development and combat climate change in the coming years.

Only gas and oil companies are “vested interests” seeking to profiteer from our demise.  Banks are charities:

BBVA Group Executive Chairman Francisco González said, “At BBVA, we want to play a key role in mobilizing resources to halt climate change and promote sustainable development. It is an ambitious, long-term goal in line with our purpose of ‘bringing the age of opportunity to everyone.’”

Apparently, the bank’s role is to change Earth’s climate, and “bring the age of opportunity to everyone”.

Do their shareholders know, I wonder?

Big cllimate money elephant.

Can anyone see an elephant?

Warning  — Meaningless acronym coming — SBTI:

BBVA has also become the first Spanish bank to commit to the Science Based Targets Initiative. The campaign helps major corporates work out how they have to cut emissions to prevent the impacts of climate change.

The group’s new strategy is called Pledge 2025

If you wanted to dress up a neolithic druid program to use windmills to slow storms, you’d call it “Science Based” too.

Right now Exxon are on trial even though they “believe in climate change”  because they spent $23 million or so on skeptics over ten years, and a long time ago. Yet, here’s a bank offering one hundred thousand million…  it’s 4,347 times as much.

Plenty more money where that came from.

Does anyone doubt that a river of money and power flows through this science debate?

Much of this “$100 billion” will be rebadged bragging money — money that would have been spent anyway but a change of label makes it “good for advertising greenness”. It’s also good for whipping up momentum in a struggling market.

Banks would have to be crazy to ignore the Trillion-Dollar Carbon trading carrot, and we’d have to crazy to ignore banks.

Other Climate Money stories

 

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