The global push for LNG – with the combined cost of new developments exceeding $1trn – is ‘bad news’ for the world’s oceans, biodiversity, climate and people, according to a new Earth Insight report.
Rather than betting on short-term solutions with direct impact on the environment, banks and companies should redirect economic resources towards renewable energies and long-term solutions, the report notes.
At the same time, governments and international organisations should ensure that biodiversity-rich regions are protected and rights of local populations respected, it adds.
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