The financing of transition mineral mining is driving widespread environmental destruction and human rights abuses, according to a report.
Banks and investors have ploughed hundreds of billions of dollars into companies mining for minerals for the manufacture of solar panels, wind turbines, batteries, energy grids and electric vehicles in the past decade, according to the research.
But the institutions funding this extraction have “dangerously weak” environmental, social and governance (ESG) policies relating to mineral mining, the report says, with most lacking any meaningful safeguards for communities and ecosystems.
“Without urgent reform, finance will continue to reinforce an extractive, high-risk model that undermines both climate and nature goals, and tramples human rights,” according to the report.
So all this capitalism hsa gone and got the mineral required to have windmills. But of course that’s bad. Because capitalism, obvs.
After all, let us not forget who the real enemy is, right?