News and Analysis | Richard Ravelin | May 17, 2022
Why we all need to be aware of ‘carbon bombs’ when considering ethical investments
Scientists around the world are all in agreement that if we continue heating the planet, we are all in big trouble. It might be surprising, then, to learn of the massive expansion of oil and gas projects, as discussed in an investigation by The Guardian newspaper.
According to the publication, 195 ‘carbon bombs’, the oil and gas projects which would see a billion tonnes of carbon dioxide emissions emitted over their lifetime, are planned and sixty percent of these have already began. Australia, Canada and the United States have the highest number of ‘carbon bombs’ and are the countries with the biggest oil and gas expansion plans.
So, what does this all mean for Path, the first – and only – financial adviser set up with positive impact at the heart of all we do, and those who want to invest their savings and pensions without harming the environment?
For our business, the reporting accentuates the importance of everything we do. Whether it’s deforestation, air freight, palm oil or indeed, fossil fuel production, it all highlights why our message matters and why our ethos needs to be heard.
Customers who come to us need to know what’s happening with their current investments, savings and pension pots and how switching to Path really can steer them from damaging the environment to helping the environment.
The core of our message is ethical, sustainable investing, so customers can be assured that if they go with us, their money won’t be used to increase global temperatures and worsen the climate crisis. We’re clear: Path only pursues ethical investments, not harmful ones.
Today’s reporting is alarming, though. These ‘carbon bomb’ projects will head us down a more anti-environmental road with lasting, untold damage to ecosystems, wildlife and our way of life. We need oil and gas companies to be moving away from this sort of activity and world governments, including the UN, need to put pressure on companies to invest in greener, sustainable sources of energy.