Anishinaabe economist and writer Winona LaDuke identifies two types of economies, grounded in different ways of seeing. Speaking in Vancouver recently, she characterized one as an "extreme extractive economy" fed by exploitation of people and nature. The second is a "regenerative economy" based on an understanding of the land and our relationship to it.
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The European Union’s climate chief has become the latest political heavyweight to publicly support divestment from fossil fuels.
Connie Hedegaard has urged the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), and the World Bank to take a lead role in eliminating public finance support for fossil fuels.
Although all three of the banks have policies aimed at encouraging lending to renewables and energy efficiency, in practice fossil fuel projects continue to benefit from their support.
Between 2007 and 2011, the EIB invested €15 billion in fossil fuel projects compared to €14.8 billion in renewables, while similarly around half of the EBRD’s annual €6.7 billion of energy lending is still going to fossil fuels.
With a collective annual lending pot of €130 billion, Hedegaard said the banks must “lead by example by restricting conditions for greater public financing of coal, the most damaging fossil fuel, and by pressing for greater transparency in reporting on emissions.”
The World Bank looks set to take its first step in this transition, as a leaked report last month announced the bank would stop lending to coal power projects, except in “rare circumstances” where there were no other options available.
Experts say that two-thirds of the planet’s fossil fuel reserves must be left underground if disastrous levels of global warming are to be avoided.
By continuing to invest in ultimately unburnable fossil fuel assets these banks are contributing to a “carbon bubble” that poses a major risk to economic security.
Hedegaard joins other political figures and a growing chorus of people supporting the divestment movement, pushing the issue up the agenda.
Two weeks ago, President Obama used his climate change speech at Georgetown University to call on U.S. citizens to “convince those in power to reduce our carbon pollution. Push your own communities to adopt smarter practices. Invest. Divest.”
Smart organizations are already shifting their money away from risky fossil fuel assets.
Last week, pension fund, Storebrand, pulled out of 19 fossil fuel companies to “reduce fossil fuel and CO2 exposure and ensure long-term stable returns” stating that such high carbon assets would likely become “worthless financially” in the future.
The bank, Rabobank also announced a blanket ban on loans to firms involved with oil sands and fracking for shale gas due to the financial and environmental risks associated with projects of this nature.
The United Church of Christ also became the latest notable organization to approve a fossil fuel divestment strategy in the U.S., becoming the country’s first national and religious body to do so.
In the UK, the Church of England has also said it would consider divesting from fossil fuels, following a resolution passed by the diocese of Southwark—with the issue now passed onto the General Synod, the legislative body which governs the church.
The church has already reduced its exposure to fossil fuels by 62 percent since 2010, a significant shift in its £8 billion of assets, which has previously seen large investments in oil giants Shell and BP.
Following in the footsteps of giant institutions, local businesses and individuals are also starting to minimize their exposure to the carbon bubble and harness the potential of clean energy investments, showing they are ready to invest in renewables.
Visit EcoWatch’s RENEWABLES page for more related news on this topic.
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SHARE YOUR THOUGHTS BELOW: What are you doing to contribute to the growing divestment movement?
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Looking for ways to cut down on single-use plastic while grocery shopping? You may already have eco-friendly shopping bags, but bringing your own reusable produce bags is another easy swap.
According to the UN Environment Program, up to 5 trillion single-use plastic bags are used globally each year, and because of the material they're made from, most municipal recycling centers don't accept them (more on this below).
The most sustainable option is to skip the bag altogether. You can also make your own reusable produce bags out of old T-shirts. But if you'd rather purchase them new, here are our recommendations for the best reusable produce bags on the market today.
Best Reusable Produce Bag Set: Eco Joy Cotton Reusable Produce Bags
<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTcxOTAxNS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzODE2MDIyNH0.qyiKrnX8T4CRp8Y5Kn_cW1oaSF7vDci2gmKEXxJfQmE/img.jpg?width=980" id="8db60" class="rm-shortcode" data-rm-shortcode-id="d39a705e9f90fc1369a1806bc6d4e016" data-rm-shortcode-name="rebelmouse-image" data-width="400" data-height="400" />Eco Joy
<p>If you're making the switch to more sustainable shopping bags and want a variety of products to use, the <a href="https://www.amazon.com/Reusable-Sandwich-Biodegradable-Eco-Drawstring/dp/B003PK4W3I/ref=sr_1_36?crid=3TDUCB8ZOM7WI&dchild=1&keywords=produce+bags+grocery+reusable&qid=1613484643&sprefix=produce+bags%2Caps%2C189&sr=8-36" target="_blank">Eco Joy Cotton Reusable Produce Bags</a> set is a great place to start. The set comes with three mesh drawstring bags, three muslin drawstring bags, a large mesh tote and a zippered sandwich-size pouch.</p><p>Each product is made with organic, non-GMO cotton that's ethically sourced in accordance with Worldwide Responsible Accredited Production (WRAP) standards. The cotton comes from India and Turkey, and the bags are hand-assembled in Canada by the owner of Eco Joy, so you can feel good about supporting a small business while reducing your environmental impact.</p><p><strong>Customer rating:</strong> 4.7 out of 5 stars with over 300 Amazon reviews</p><p><strong>Why buy: </strong>Zero-waste; Handmade in Canada; WRAP compliant; Machine washable</p>Best Mesh Bags: Organic Cotton Mart Reusable Cotton Mesh Produce Bags
<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTcxOTE0OC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1MTQyNDQ5MX0.E6MFCOXZ-3EvKDK0MIv34EJO3oE6WMWxiFZBR5aNU_w/img.jpg?width=980" id="ba5c7" class="rm-shortcode" data-rm-shortcode-id="91a9dd3d18f7b4a41fae606ff4d1204b" data-rm-shortcode-name="rebelmouse-image" data-width="400" data-height="400" />Organic Cotton Mart
<p>Some shoppers prefer to use mesh bags when shopping for fruits and veggies. We recommend checking out <a href="https://www.amazon.com/Best-Reusable-Produce-Organic-Cotton/dp/B07CK2TJKL/ref=sr_1_16?crid=10A7NM0LQ0B7E&dchild=1&keywords=mesh+produce+bags&qid=1613483897&s=home-garden&sprefix=mesh+pro%2Cgarden%2C162&sr=1-16" target="_blank">Organic Cotton Mart's Reusable Cotton Mesh Produce Bags</a> if you're in this camp, as they're made with Global Organic Textile Standard (GOTS) certified cotton.</p> <p>Mesh reusable produce bags can make the checkout process easier than muslin bags since you can see what's inside them without having to open them up. Plus, the tare weight (i.e., the weight of the empty bag that should be subtracted from the total weight of your produce to make sure you don't pay extra for using your bag) is printed right on the label of Organic Cotton Mart's bags, making everything that much more convenient.</p> <p><strong>Customer rating:</strong> 4.6 out of 5 stars with nearly 1,000 Amazon reviews</p><strong>Why buy:</strong> GOTS certified; Machine washable; BiodegradableBest Muslin Bags: Simple Ecology Reusable Produce Bags
<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTcxOTE1OS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYyNjY3NDE3N30.f2sAcYTGhqq4ytlNGSyzZexPwqH2SpqpTwsX2fvph10/img.jpg?width=980" id="f90b3" class="rm-shortcode" data-rm-shortcode-id="e95c082f9b831bf11004e12b73ae8263" data-rm-shortcode-name="rebelmouse-image" data-width="400" data-height="400" />Simple Ecology
<p>On the other hand, if you just want to purchase muslin bags, we like <a href="https://www.amazon.com/Simple-Ecology-Reusable-Organic-Shopping/dp/B004UJ0U0C" target="_blank">Simple Ecology's Reusable Produce Bags</a>, which are also made with GOTS-certified organic cotton. Simple Ecology also has a <a href="https://www.amazon.com/dp/B01N6AUMBG/ref=sspa_dk_detail_2?psc=1&pd_rd_i=B01N6AUMBG&pd_rd_w=MA3ZS&pf_rd_p=cbc856ed-1371-4f23-b89d-d3fb30edf66d&pd_rd_wg=hVunQ&pf_rd_r=G6RTQ1Z5DKEY325MAJZ9&pd_rd_r=5d298b3a-1be7-4ebd-a9e1-d5d672a40497&spLa=ZW5jcnlwdGVkUXVhbGlmaWVyPUExMzc4RVAxWjNLOTdCJmVuY3J5cHRlZElkPUEwNTc0NTAwMzBDMjFYOVJPTUpWSCZlbmNyeXB0ZWRBZElkPUEwNjYyOTM4M0s4Vk81SVBPS1NFSyZ3aWRnZXROYW1lPXNwX2RldGFpbF90aGVtYXRpYyZhY3Rpb249Y2xpY2tSZWRpcmVjdCZkb05vdExvZ0NsaWNrPXRydWU=" target="_blank">starter kit</a> that comes with several reusable grocery bags if you're looking for more variety.</p> <p>The benefit of using muslin reusable produce bags is that, unlike mesh, there are no holes for small items to slip through. This means that in addition to larger produce, you can use them to purchase bulk foods like lentils, beans and rice — or even powders like flour or spices — without worrying about anything leaking. They're also best for keeping leafy greens fresh.</p> <p><strong>Customer rating:</strong> 4.7 out of 5 stars with nearly 1,500 Amazon reviews</p><strong>Why buy:</strong> GOTS certified; Machine washable; Biodegradable; Sustainable Forestry Initiative (SFI) certified packaging when purchased from manufacturerBest String Bags: ECOBAGS Market Collection Reusable Bag Set
<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTcxOTE2Ny9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1NTkzMDc5Mn0.v_aTdf8TPuA39wgpmS2Dgb_88t2jfcbXDJkC9wf5CrE/img.png?width=980" id="c42d2" class="rm-shortcode" data-rm-shortcode-id="ada50990c5c2520886afd23fcca522a4" data-rm-shortcode-name="rebelmouse-image" data-width="752" data-height="628" />ECOBAGS
<p>Whether you're buying bread, fresh flowers, produce or all of the above, the <a href="https://www.amazon.com/ECOBAGS-Market-Collection-Reusable-Natural/dp/B08KFGPGN5" target="_blank" rel="noopener noreferrer">ECOBAGS Market Collection Reusable Bag Set</a> is ideal for <a href="https://www.ecowatch.com/farmers-markets-coronavirus-safety-2645581711.html" target="_self">farmers market</a> shopping or large grocery hauls. The netted bags are durable, flexible, and pack down small so they're easy to keep in your car or purse.</p> <p>ECOBAGS is a woman-owned certified B Corp, which means it uses sound social and environmental practices. These bags come in packs of three or five and have a few different handle lengths and color options, but they're all made with GOTS-certified organic cotton.</p> <p><strong>Customer rating: </strong>Not applicable</p><p><strong>Why buy:</strong> GOTS certified; Machine washable; Biodegradable; Certified B Corp; SA8000 certified for the protection of basic human rights of workers</p>