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

Opinion

BY ISG SENATOR ROSA GALVEZ

February 16, 2022

Our way of life has pushed the current system to its limits. The global demand for material resources is expected to double by 2060, causing environmental damage, an increase in greenhouse gas emissions and an increase in the production of waste and associated pollution. Our current linear extractiv...

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