Financial benefit has been the driving force in the world's economy since the beginning of history. Some of the most profitable industries have also been the most destructive to human life and the environment. Strip mining, deep sea oil drilling and mountaintop excavation, for example, supply the population's insatiable lust for cheap energy.
Recent developments can lead us to believe that a change in public practice is finally coming. A New York Times article highlighted the increasing number of banks and lending agencies that are refusing or restricting loans to dirty or questionable industries. HSBC and Wells Fargo, among others, were mentioned by name, and with some of the world's largest banks refusing credit, dirty industries will find it increasingly difficult to allocate funding.
Undoubtedly, these banks look bad when they are tied to an industry responsible for the loss of wetlands or deforestation. Therefore, these new restrictions are not coming from a "green" consciousness; rather, they are worried about the public opinion. Luckily, though, the wrong motivation is providing the drive for the benefit of the world.
However, there are always people willing to ruin their public reputation in order to make a profit. Secondary banks are still willing to provide the funding needed, allowing the industries to continue operating. As long as we keep buying SUVs, turning the air conditioning on instead of opening a window, or failing to support the latest technologies and sustainable practices, we empower the corporations of the world to engage in questionable business.
Stephen M. Shchurowsky
Graduate architecture student
