The Finance Sector and Climate Change
Constraining Credit for Coal
1st Edition
Published on 16. September 2025
Book
Paperback/Softback
225 pages
978-1-0364-5878-2 (ISBN)
Description
A common claim is that fossil fuel interests thwart sound policy on climate change, but this book shows any funding of contrarian groups is outdone by the financial sector, supporting the conduct of science, the operation of environment groups, alarmist media reporting and the conduct of politics to serve the activities in which they have invested-initially natural gas but latterly renewables. This support is often channelled through 'pass through' funds in what has been described as 'philanthrocapitalism'. One example is Covering Climate Now, a cartel of news media outlets, ensuring a perception of 'climate crisis' is maintained-despite the absence of evidence of a crisis. The result has been the imposition of restrictions of finance for coal by the World Bank and by the OECD, with the latter described for the first time in this book. This has worked to the advantage of China and harmed the developing world.
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Book
12/2024
Cambridge Scholars Publishing
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Author
Aynsley Kellow is Professor Emeritus of Government at the University of Tasmania, Australia. Previously he was Foundation Professor of Social Sciences at the Australian School of Environmental Studies, Griffith University. A former President of the Australian Political Studies Association and former Chair of Research Committee 38 on Politics and Business of the International Political Science Association, he was an Expert Reviewer for the Fourth Assessment Report of the Intergovernmental Panel on Climate Change. He has published widely on energy, environment and climate change, including Transforming Power, Science and Public Policy, Negotiating Climate Change, and (coauthored with Peter Carroll) three books on the Organisation for Economic Cooperation and Development, the most recent commissioned by the OECD to mark its 60th Anniversary. His most recent book, with the late Marian Simms for Cambridge Scholars was Mining Industry Association at Multiple Levels of Governance: Drilling Down.