Walking along the streets of Central in Hong Kong, the banking district of a global financial centre, one would never think of the wide-reaching link that these grand hallways have on communities around the world. But they do.
According to the 2020 Banking on Climate Change Report, the world’s major financial firms have funnelled approximately $2.7 trillion US dollars into the extraction of fossil fuels from 2016 to 2019 since the adoption of the Paris Agreement. In 2019, data from the Climate Accountability Institute revealed that 20 fossil fuel companies are responsible for a third of all carbon emissions.
Back to the streets of Hong Kong. Many of the banks responsible for funding the companies can be found here. In the past few years, several of them have made pledges to shift to more sustainable portfolios. However, words are cheap: Bank Track has found that “major global banks’ fossil financing has increased each year since Paris, and that even the best future-facing policies leave huge gaps.”
In this photo series, I take a visual exploration into the link between the hallways of investment, their recent activities, and the communities that they affect as a reminder of the real-life implications of fossil fuel investment in order to hold the major fossil fuel funders accountable.
To read the full article: visit Climate Tracker