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Explore the Finance & Economy topic at the Sustainability Hub, what events are happening and resources on the topic.

Finance & Economy

Explore the Finance & Economy topic at the Sustainability Hub, what events are happening and resources on the topic.

How is it connected to sustainability?

Economy

Scotland and many other countries currently operate under a linear economy model viewed as a take-make-waste system. As a result, Scotland's material consumption accounts for 68% to 74% of our entire carbon footprint. In the 21st century, there has been efforts to move away from a linear economy towards a more circular one. Friends of Earth Scotland estimates that this would save Scotland 11 million tonnes of carbon dioxide emissions by 2050.

A circular economy is based on the three principles of:

  • Eliminating waste and pollution
  • Circulating products and materials (at their highest value)
  • Regenerating nature

The Scottish Government made movements towards a circular economy in 2019 with a new Circular Economy Bill due to be introduced in 2020. However, this bill along with several others were cancelled in light of the coronavirus crisis. Consultations on bringing back the bill started again in 2022 driven by Lorna Slater MSP, Minister for Green Skills, Circular Economy & Biodiversity.

Sources

Ellen Macarthur Foundation

Chatham House

Friends of the Earth Scotland

Scottish Government

Current accounts

Many of the big high-street banks in UK still invest in fossil fuels. This international report from 2021 places the top 50 banks in Europe according to their level of investment in the fossil fuel industries. This can help you spot whether your current account investments are in-line with your values.

Source

Ethical consumer

Pensions:

The Make My Money Matter campaign claims that moving pension savings to sustainble funds '...can be 27 times as effective at reducing your carbon footprint than eating less meat, using public transport, reducing water use and flying less combined'.

Source

Guardian

Resources

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