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world news Diahuebs 4 November 2021

Investors bet big on climate fight but motives questioned

(AP) — Governments and big
investors announced fresh plans The Glasgow Financial Alliance for
Wednesday to pour trillions Net Zero — launched this year by
of dollars into curbing global former Bank of England chief Mark
warming, reflecting the financial Carney — promised to follow sci-
world’s growing embrace of ef- entific guidelines for cutting carbon
forts to fight climate change as emissions to “net zero” by 2050.
both a business necessity and op-
portunity. That goal — which means limit-
ing greenhouse gas emissions to the
But some social justice activists called amount that can be absorbed again
for scrutiny of investors’ motives, through natural or artificial ways —
warning that the same financial in- is increasingly being embraced by
stitutions that profited from funding companies and governments around
fossil fuel firms were now being pre- the world.
sented as green champions.
Experts say fossil fuel use has to drop
There is a growing consensus that the drastically over the coming decade to
private sector must be involved if the cap warming at 1.5C, meaning inves-
world is to avoid catastrophic global tors would likely have to dramatically
warming. Speaking at the U.N. cli- cut back money going to oil, gas and
mate summit in the Scottish city of coal producers. As home to the City of London, one one standard definition is one of the
Glasgow, Britain’s Treasury chief Ri- of the world’s major financial centers, big challenges going forward.
shi Sunak said that while countries “It is huge that financial institutions the U.K. “has a responsibility to lead
such as his are stumping up more managing $130 trillion in assets are the way” in financing efforts to fight Some campaigners were distrust-
cash to fund the shift to low carbon now leading the charge to a net-zero global warming, said Sunak, poten- ful of the motives of big investors in
economies around the world, “public future,” said Helen Mountford, a se- tially becoming “the world’s first net- general.
investment alone isn’t enough.” nior climate expert at the World Re- zero aligned financial center.”
sources Institute think tank. “Many of the financial institutions
He praised a pledge Wednesday by a But James Thornton, founder of the meeting today have made a killing
group of over 450 major financial in- She said that mobilizing massive environmental law charity Clien- from the climate and ecological cri-
stitutions to align their investments public and private finance will be key tEarth, questioned how effective the sis, and we should be deeply suspi-
with the 2015 Paris climate accord to tackling global warming. U.K. effort would be. cious of any attempt to spin them as
— which calls for reducing carbon the heroes,” said Dorothy Guerrero,
dioxide emissions and other efforts to To that end, Sunak said U.K. finan- “The U.K. market is still hooked head of policy at the nongovernmen-
limit global warming to 1.5 degrees cial institutions and publicly traded on fossil fuels,” he said, calling for a tal group Global Justice Now. “Gov-
Celsius (2.7 Fahrenheit) above pre- companies will be required to pub- task force to ensure companies don’t ernments must regulate the process
industrial levels. lish plans detailing how green their “greenwash” their activities — that is, and lead the transition, instead of just
investments and their own businesses using high-profile announcements handing it over the corporations.”
“This is a historic wall of capital for are — in order to ensure they’re ac- of so-called green initiatives to mask
the net-zero transition around the tually contributing to reductions in other “dirty” activities. Experts also But Alok Sharma, the British official
world,” Sunak said at the conference global warming. caution there are various ways to cal- chairing the talks in Glasgow, insisted
known as COP26. culate net zero — and deciding on the shift was genuine.

Mali seeking French former hostage who returned without visa

(AP) — Malian authori- der back into the country in An Oct. 29 message distrib- troops.” French journalist Anthony
ties said Wednesday they March, about five months uted to Malian police that was Fouchard, who stayed with
are searching for a French after she was freed. obtained by The Associated “When we have citizens who her after her release, told
woman who spent four Press indicated that Petronin are taken hostage, it is our French broadcaster France
years as an al-Qaida hos- French media reported that was headed toward the town troops who save them, at a Info that Petronin had longed
tage and who now has re- she had returned to reunite of Sikasso. Authorities called risk to their own lives,” he to return to West Africa and
turned to the West African with her adopted daughter for her to be brought back to added. “There were soldiers had been living “a rather
country despite being de- after difficulties adjusting to Bamako if located. who were killed in operations peaceful retirement” in Ba-
nied a visa. life back in Europe. French to save hostages imprisoned mako until last week.
and Malian authorities both “Sophie (Petronin) is wanted in foreign countries. You
Sophie Petronin, 76, spent expressed dismay about her by the gendarmerie. And as it have to have respect for our “Her life for the last 25 years
years working in Mali before decision to return, fearing for is an investigation, I do not soldiers.” has been devoted to Mali,”
her 2016 abduction and ap- her safety. want to talk about the reason he told France Info. “She has
parently crossed a land bor- for this search, but the judi- In an interview with the her adopted daughter who is
cial authorities have many French news outlet Medi- still there and she wanted to
questions to ask her,” said apart, Petronin said she has find her and I think that this
Amadou Sangho at the Min- been in Mali since March, can be understood by the ma-
istry of Internal Security. having crossed the land bor- jority of people.”
der with Senegal after the
French government spokes- Malian Embassy in Switzer- Petronin had lost a son years
man Gabriel Attal also ex- land refused to issue her a ago in a mountain accident
pressed alarm about Petro- visa. and then vowed never to re-
nin’s return to Mali, where turn to Europe, Fouchard
foreigners remain at risk of After her release, Petronin said. The adjustment after
being abducted. said she had converted to being repatriated following
Islam while in captivity and many years in Mali was a dif-
“We deplore the return of called her detention “a spiri- ficult one for her, he added.
Sophie Petronin to Mali. tual retreat.” She asked to be
It’s a form of irresponsibil- called by the name Mariam, “She is ending her life where
ity toward her own security not Sophie. she always wanted to end it,”
and that of security of our he said.