Financial systems

A green economy is one that will drive investment and financial flows towards restoring our environment and generating a better quality of life for all. Our coalition members share some practical suggestions on reforming our financial systems below.

June, 2012
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Banking on a new, green economy

Jerome Delorme - Credit Cooperatif

The Credit Cooperatif is a banking group based in France that is owned by its clients and supports small businesses, trade associations and co-operatives. It finds its origins in the Social Economy movement in the late 19th century that led to the creation of today’s large mutual banking groups. As such, the Credit Cooperatif is committed to innovate on a regular basis in the area of responsible financial services linked with solidarity mechanisms.... Continue reading

January, 2012
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The reform of money for a new green economy

Guest Author - Mira Tekelova - Positive Money

In the first part of our analysis we showed that the root cause of the constant, and ultimately unsustainable, pressure for economic growth might lie in money, specifically in the “way how money is created in our present system”. We showed how this same thing is also the reason why there is always a lot of investments into environmentally destructive projects and always lack of funding for ecologically friendly projects, renewable energies etc. In this follow up article, we want to posit a simple solution that would transform our financial system:

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December, 2011

In-debt to a destructive economy

Guest Author - Mira Tekelova - Positive Money

Those involved in the debates around Green Economy are probably familiar with the topic of decoupling economic growth and environmental problems. A lot has been written about slowing down growth, steady state economics, and even degrowth. There are different views on the transition path but the issue is that there can’t be infinite growth in a finite world. What is not usually in focus, however, is the underlying reason which makes growth inevitable and necessary. Might it be that this underlying cause is the money and banking system?... Continue reading

October, 2011

Looking back from 2020

Hazel Henderson - Ethical Markets Media

It is the year 2020. We are looking back on a decade of initiatives that transformed our global economy. Efforts, ranging from global to local, sparked a momentum for a transition to an ethical, green economy.

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August, 2011

Pricking the carbon finance bubble

Hazel Henderson - Ethical Markets Media

After the first year of the Dodd-Frank reform in the USA, the too-big-to-fail financial bubble still looms. The deficit debate revealed decades of unsustainable policies, practices and money-corrupted politics. Subsidised fossilised industries still dominate in energy, healthcare, agriculture, military and on Wall Street. Massive misallocations of capital led to the financial crises of 2008-9 (see FCIC), papered over by bailing out the perpetrators.

The USA was stuck with a symptomatic debt to GDP ratio of 90% and reckless, diversionary politicizing of the debt ceiling. The best way to cut the deficit: closing tax loopholes and putting Americans back to work, so as to restore lost tax revenues. MSNBC's Dylan Ratigan calls for restructuring US debt—and facing up to the global debt overhang.

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August, 2011
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Transforming the financial sector to work for people rather than profit alone

Dr Aled Jones - Global Sustainability Institute

Achieving a green economy involves tackling a number of different global challenges including climate change, ecosystems, waste, water, equity and social inclusion. A green economy will require radical change to the way capital is managed around the world. Therefore, the finance sector, which manages this capital, is at the heart of achieving any meaningful change.

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March, 2011

Getting the prices right

Victor Anderson - WWF

While price remains important and central, let's also include ecological elements in the price system.  Prices continue to be at the centre of how economies work. Whatever the institutional arrangements and the messages coming from governments, whether something is expensive or cheap, will still be a large part of what counts, with both consumers and businesses.

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