Today, in a decision that strikes directly at climate action, the Supreme Court has issued a ruling that will limit the EPA’s ability to efficiently regulate carbon emissions of power plants at the federal level under the Clean Air Act. This represents a harmful step backward in the federal government's ability to regulate GHG emissions levels at the national level, with no clear path towards a federal public policy approach to combat climate change.
Climate change is the most pressing issue faced by our world and finding tangible solutions simply can’t wait any longer. It’s why we built Aspiration – to give people the tools to take meaningful climate action every single day. And while we continue to power bottom-up change, it is clear that there must be significant action from the top-down in tandem.
For the U.S. to reach its goal to reduce greenhouse gas emissions by 50 to 52 percent below 2005 levels by 2030, American organizations also need to commit to climate action, curb their own carbon output, and lead the way for wider regulations. Customers, employees, and stakeholders have all come to expect and demand it.
Though necessary, reducing emissions alone is not enough. Business leaders need to invest now in climate solutions that effectively and permanently remove carbon and protect our ecosystems. Putting this off is no longer an option. Corporate profitability and sustainability are already inextricably linked.
Collectively, individual actions can help save the world, too, by making our money work more sustainably on behalf of us. Consumers have the power to not only lower our own carbon footprint but to have a say on where we put their money, how it is spent, and what that money directly funds.
Every year the big banks use hundreds of billions of dollars of their customers' money to finance the fossil fuel industry, with $742 billion in fossil fuel financing in 2021 alone. Moving your money to a sustainable financial services provider like Aspiration means it will never build pipelines, drill for oil, or fuel any other planet-destroying projects. It also sends a message to other financial institutions that they need to do better.
Today’s ruling is a disheartening setback but an important reminder to continue our fight. The planet and the people on it are counting on us to stand up against climate change, and we implore governments, businesses and individuals to take immediate action today.