Follow the money.
The fossil fuel divestment movement argues that where we invest our money either helps move toward a cleaner future or props up polluting industries that are driving climate change.
Now government agencies are taking that idea to the next level by proactively encouraging investment in renewable energy and energy-efficiency projects. Called green banks, they are not banks as we typically think of them. They do not accept deposits from individuals, and they aren’t private institutions. Instead, green banks are government run and aim to leverage limited public funds by attracting private capital to these projects.
Remember the Panama Papers leak..anyone?? If you do, then several African nations are amongst you. Obscure “customers” within their borders, according to leaks, were linked to offshore activities on the continent. Welcome to a new chapter of a forgotten scandal. It’s complete with inquiries pending and leaders questioned, topped off with journalists allegedly warned to stay away.
Mossack Fonseca, a firm center-piecing the Panama papers leak, sent business cards to several customers in Africa in 2010. According to ICIJ, the firm regarded the continent as “target territory”, filled with wealthy “customers”. However, since the leak–which outed everyone and everything from celebrities to military contractors–many of those customers have been questioned by African governments.
Are we going to repeate the financial crisis of 2008?