Singapore Airlines is the latest Asian carrier to consider no-destination flights to give ailing revenues a lift. Environmentalists and community groups say there are more sustainable ways to save the airline industry.
Most resources are still flowing into unsustainable activities because of inertia, the way risk is assessed, and ‘debilitating’ uncertainty over what sustainable investment is, said UN assistant secretary-general Elliott Harris.
A new analysis tracks the intricate credit flows crisscrossing Asia that profit sectors notorious for their impacts on the planet and people. Regional cooperation is critical to foster responsible lending practices, argue the authors.
He warned that glossy sustainability reports can mask misleading trade-offs such as 'clean coal', and said businesses have underestimated the scale of change needed to achieve the Sustainable Development Goals.