<
https://reneweconomy.com.au/macquaries-gas-fuelled-climate-backflip-is-ringing-alarm-bells-for-investors/>
"It wasn’t long ago that the world’s major banks, including Macquarie, were
collectively mobilising to achieve the goals of the
Paris Agreement.
In April 2021, now Canadian prime minister, Mark Carney launched the Glasgow
Financial Alliance for Net Zero (GFANZ). By the time COP21 rolled around in
November that year, around 450 financial institutions representing $130
trillion in assets were committed to net zero.
Mark Carney recognised this landmark agreement saying: “We now have the
essential plumbing in place to move climate change from the fringes to the
forefront of finance so that every financial decision takes climate change into
account.”
At the front of this wave was the Macquarie Group.
While Australia was coming under fire for the Morrison government’s lack of
climate ambition at COP26 in Glasgow, Macquarie’s CEO, Shemara Wikramanayake,
was being recognised as a ‘de facto leader’ of Australia at the UN climate
change conference.
Wikramanayake’s strong advocacy at the UN climate change conferences earned her
recognition as one of
Time Magazine’s 100 most influential climate leaders in
business in 2023, remarking “there’s just a lot of change we need to do to stop
our planet from burning.”
Which makes Macquarie’s climate backflip over the last 18 months all the more
extraordinary, raising questions about whether the Group was genuinely
committed to the
Paris Agreement or simply being politically expedient."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
