Save Children's Lives: Climate-Responsible Banking Survival Guide

According to evidence provided by UNICEF (The impacts of climate change put almost every child at risk, 2021), the impacts of the climate emergency put almost every child at risk. Children and youth around the world are marching in the streets and taking action, urging adults to take adequate steps towards solving the climate emergency. In the meantime, global CO2 emissions from fossil fuels hit a record high in 2022 (CarbonBrief, Analysis: global CO2 emissions from fossil fuels hit record high in 2022, 2022). The latest research reveals that 425 “climate bombs” (Garric A and Mouterde P. Global warming: the 425 ‘carbon bombs’ that could thwart the battle against rising temperatures, 2022), spread across 48 countries, could lead to CO2 emissions that are twice the global carbon budget, thwarting the objectives of the Paris climate agreement and the fight against climate disruption. These carbon bombs are financed by many of the major banks, asset managers, and pension funds. Children have no influence on the banking choices that allow for these new carbon bombs to put their future at risk. This chapter presents an initiative based on research supported by the Keeling Curve Prize. The goal of this initiative is to scale up an impactful measure which every adult can undertake to accelerate climate solutions and give hope to children: climate-responsible banking. The lever we use the least turns out to be the most powerful tool we have—engaging with our banks to ensure that our own assets are not contributing to global warming.