New Alliance member Market Forces, believes that the banks, pension funds and governments that have custody of our money should use it to protect, not damage our environment. We caught up with their UK campaign lead Adam McGibbon to find out more about their work.
Why did you join the Rapid Transition Alliance?
Because what we’re collectively doing right now isn’t enough and we need to do more, and to find allies for Market Forces’ work, moving financial institutions away from fossil fuels.
What for you is the biggest challenge of rapid transition?
Designing a transition that is just, fair and inclusive. A top-down, ‘unjust’ transition will fail. A just transition that improves people’s lives, health and incomes can succeed.
What is your organisation doing to encourage rapid transition?
Market Forces work to shift the financial system away from activities that harm the environment. We do this by using every tool in the box, from noisy protests to shareholder action.
We have a financial system that is pumping billions into the fossil fuel industry. This must stop. Whether we like it or not, we live in a world dominated by financial institutions. But these institutions can be forced to move away from fossil fuels and other carbon-heavy activities, and if we can shift them, they can move faster than many timid governments would dare, even taking governments along with them.
What is your favourite example of rapid transition?
Oil Change International’s ‘Sea Change’ report, showing how the UK Government could bring about a just transition in the North Sea oil and gas industry, while protecting worker’s jobs and creating new ones.
What one thing would best help the task of rapid transition?
More democracy – for me, that means unshackled trade unions, a civil society free of restrictive regulations, and local government where people have the power to shape their own destinies.
