Many hands

How can we turn around the world’s financial institutions so that their creation of money serves to construct a new ecological civilisation, rather than destroys our current civilization through the financing of an ecological and climate catastrophe?  Guy Dauncey has a few suggestions.

Achieving ecologically-sustainable finance is a massive problem that needs multiple solutions. Before we turn our attention to some possible solutions, we need some context. Global GDP in 2018 was $87.5 trillion. Global debt, created by the world’s financial institutions, was $247 trillion, growing by $14 trillion a year. Between 2005 and 2016 the debtincreased by 73%, split between governments ($63 trillion), non-financial corporations ($68 trillion) and private households ($44 trillion).

Global finance is not a singular entity. There are some 230,000 financial institutions in the world, including 25,000 fully licensed banks, 80,000 mutual investment funds, 89,000 credit unions, 20,000 to 30,000 shadow banks, and many

You need to login to view the rest of the content. Please . Not a Member? Join Us

Guy Dauncey

Guy Dauncey is an eco-futurist who works to develop a positive vision of a sustainable future, and to translate that vision into action. He is founder of the BC Sustainable Energy …

Read More »

Leave a Reply

Your email address will not be published. Required fields are marked *