As you might have noticed from the demonstrations in cities across the world, it was Earth Day on Friday. And half a century after the movement’s birth, sustainable investing was at the centre of this year’s event, in the latest sign of how capital flows are now the hottest subject in the environmental debate.
“Invest in our Planet” was the official theme of the 53rd Earth Day. On their website, the organisers argued that companies with strong environmental, social and governance standards would enjoy better business performance, and hailed clean energy investment as a powerful source of new jobs.
On the streets, however, there was more focus on the problems with business as usual. Outside the London offices of asset management giant Vanguard, protesters lit flares in protest against its funds’ investments in fossil fuels. In New York, they blockaded the printing sites of major newspapers, accusing them of failing to cover the climate crisis “with the frequency it deserves”. And outside German embassies in cities across Europe, activists handed out red-stained rouble notes, in protest against the country’s continued purchases of Russian fossil fuels.