Promoting and Creating Fundamental Change in the Sectors That Impact Climate Change
One organization—The Rocky Mountain Institute (RMI)—is championing the move away from carbon-rich fossil fuels by focusing on the myriad organizations and industries that have the power to influence a systemic shift. In this series of blogs, we’ll highlight some of the ways RMI is making significant inroads in transforming our current practices into those that will achieve dramatic and lasting reductions in carbon emissions that lead to climate change. A prevailing myth that a focus on the environment impedes economic growth and stability has been proven false. Through the work of RMI and other organizations, we now know that these vital environmental initiatives can fuel the economies in the U.S. and around the globe.
Founded in 1982, Rocky Mountain Institute (RMI) is an independent, nonpartisan, nonprofit organization. RMI has a global reach and reputation with approximately 229 full-time staff and annual operations of $56 million. RMI’s mission is to transform global energy use to create a clean, prosperous and secure low-carbon future. To that end, RMI engages businesses, communities, institutions and entrepreneurs to accelerate the adoption of market-based solutions that cost-effectively shift from fossil fuels to efficiency and renewables, by employing rigorous research, analysis and whole-systems expertise to develop breakthrough insights. RMI collaborates with diverse partners—business, government, academic, nonprofit, philanthropic and military—to accelerate and scale solutions.
The Financial Sector
In collaboration with Wells Fargo, Goldman Sachs, Bank of America, and JP Morgan Chase, RMI launched The Center for Climate Aligned Finance. The Center is seeking to bring participating financial institutions’ entire portfolios of lending and investment activities into alignment with 1.5°C – consistent emissions pathways, mobilizing $18 trillion into climate-friendly investments and companies.
- Building sector agreements – Convene leaders from carbon-intensive industries, their customers, and financial institutions to establish climate alignment agreements, similar to the Poseidon Principles for the shipping sector, in sectors like power utilities, oil and gas, steel, aviation and cement.
- Developing global frameworks – Develop global, standardized frameworks and definitions for climate alignment spanning the financial sector.
- Supporting Individual firms – Support financial institutions in navigating the organizational challenge of transforming into a climate-aligned financial institution.
- Shaping the global conversation – Shape public discourse through media and strategic communications to clarify and legitimize the concept of climate alignment.
Stay tuned for our next blog on RMI’s initiatives—the Climate TRACE Coalition, providing real-time data on greenhouse gas emissions from power plants. In the meantime, visit their websites, and send an email to firstname.lastname@example.org with your questions or comments.