Stuck in the Past on the Climate

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Indeed, he told the conference, the earth had been cooling in recent years. Even if the scientists were right about the greenhouse effect, he continued, "it is highly unlikely that the temperature in the middle of the next century will be significantly affected whether policies are enacted now or 20 years from now."

That epic misjudgment and his company's efforts while he was at the helm to sow doubt and mislead about global warming didn't cost him his seat on the bank's board, which he has held for 33 years. Instead he fit right in as the annual "Banking on Climate Change" reports from the Rainforest Action Network make clear. JP Morgan has become the world's biggest lender to the oil and gas industry, providing over a quarter-trillion dollars in the years since the Paris climate accords were signed.

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Bill McKibben is the author of a dozen books, including The End of Nature and Deep Economy: The Wealth of Communities and the Durable Future. A former staff writer for The New Yorker, he writes regularly for Harper's, The Atlantic Monthly, and The (more...)