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    Eden Prairie Local News
    Home»Opinion»Network for greening the financial system has our backs
    Opinion

    Network for greening the financial system has our backs

    Letter to EditorBy Letter to EditorAugust 26, 20222 Mins Read
    Letter to the Editor

    The great news is that since 2017 the 114 central bank members of the Network for Greening the Financial System (NGFS) have been developing scenarios to help financial, government and corporate institutions prepare for the urgent transition to a Net-zero greenhouse gas world. 

    Their work began as a hand-off from earlier work of the G20 Green Finance Study Group. Although not something that is a detailed plan, NGFS’s work has stimulated behind-the-scenes preparations that are being rolled out by major consulting firms with public domain reports on these scenarios to help guide planning. 

    Although encouraging, the irony is the scenario which seems most likely, to this reader at least, too little too late is not fleshed out at all. 

    Perhaps it was an oversight, but it’s more likely everyone knows what too little too late looks like. It’s the path we’re on when it comes to decreasing the greenhouse gases that are increasingly being put in the atmosphere, trapping more heat and raising the average global temperature. 

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    Meanwhile, the latest IPCC report from the climate experts suggests that the world may reach 1.5 degrees C warming by the end of this decade, well before 2050, which was the goal of the latest Paris climate conference. 

    Where’s the moon-shot urgency to install solar panels and wind turbines to get us to Net-zero sooner rather than later? Our descendants may not forgive us our inaction as they will suffer the consequences.

    Claude Buettner

    Eden Prairie

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    We offer several ways for our readers to provide feedback. Your comments are welcome on our social media posts (Facebook, X, Instagram, Threads, and LinkedIn). We also encourage Letters to the Editor; submission guidelines can be found on our Contact Us page. If you believe this story has an error or you would like to get in touch with the author, please connect with us.

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