Laser Talk: Transforming our Economy

Takeaway: Governments must enact specific policies that will redirect financial flows to ensure our planet’s continued prosperity. 

Full version: As of 2023, humanity has crossed 6 of the 9 planetary boundaries necessary for our continued survival on this planet. Crossing these boundaries increases the risk of generating large-scale abrupt or irreversible environmental changes.

It is critical that we reel in our excess to ensure the continued ability to develop and thrive for generations to come, but sadly, our current economic system uses nature and human health as sacrifices for short-term economic prosperity. This damaging outlook must change, and it can.

The path forward is clear. We must redirect financial flows towards a thriving and equitable planet. 

To do so, we must demand that our governments implement rapid subsidy and tax reforms, ensure that all polluters pay by pricing all greenhouse gases, and additionally, reform financial systems including main street banks, the multilateral development banks, and the insurance industry to ensure they stop financing and insuring fossil fuels projects in order to keep in line with the science of a 1.5 C planet (Meaning a 40% cut in GHGs by 2030 and a true net-zero by 2040). 

It will not be easy, but we will need global cooperation to make this a reality with human rights and citizen engagement being an integral part of our collective transformation. 

This transformation isn’t just a lofty ambition; it’s a necessity for our survival. It’s our responsibility to ensure a world where humanity and nature coexist harmoniously. 

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