@leevisaari.bsky.social from @ainowinstitute.bsky.social on the #AI bubble: "Open AI lost 10bn in the last quarter. Three big tech companies spent 350bn on AI last year, and our EU competitiveness fund is 450bn over the next 6 years. This is a bubble which is going to burst." #FinanceForSociety

Adriana Cuppuleri from @algorithmwatch.org addresses how AI influences credit scoring systems and the huge gap in agency regarding the technologies that have an effect on our lives: "Scoring is never just neutral, it is built on a political assessment." #AIAct #FinanceForSociety

🤖 AI is reshaping finance faster than regulation can keep up. Adriana Cuppuleri from @algorithmwatch.org, @leevisaari.bsky.social from @ainowinstitute.bsky.social and Christian M. Stiefmüller discuss how Big Tech is reshaping our financial system (and society). #FinanceForSociety

@annpettifor.bsky.social on the role of pension funds at the #FinanceForSociety Forum: "Pensions should be invested in the domestic economy to provide for domestic growth, employment and income, from which the future pensions can be paid."

@annpettifor.bsky.social on the coming future crisis due to debt accumulation and the bailout state: "The markets are operating in their stratosphere and beyond government oversight. Yet, unlike the crisis in the past, today the markets cannot and will not go bust..."

@annpettifor.bsky.social on the migration away from national boundaries - and democratic oversight and regulation - at the #FinanceForSociety Forum: "The global economy is now effectively governed by those active in private global markets in money; not the democratic governments or the IMF."

@annpettifor.bsky.social at the #FinanceForSociety Forum: "To the detriment of the rest of us and while the casino operates in another sphere altogether, it remains tethered to the real 'bailout economy' we live and work in: our pensions, cost-of-living, housing and our climate."

@annpettifor.bsky.social touches on the hype and marketing behind the #AI bubble at the #FinanceForSociety Forum: "The AGI bubble may just be a vast techno-dystopian power play to put tech bosses at the helm of political and economic control. This is class war at its most brutal."

📣 LIVE NOW! @annpettifor.bsky.social speaks along with Greg Ford from Finance Watch at the #FinanceforSociety Forum in Brussels on challenging the global casino by building economic and climate justice. Watch here 👇

@andrewwatteu.bsky.social from @etui.bsky.social on the need for a bigger role for public finance: "We need a bigger EU budget, common borrowing and safe assets, as well as a further reform of fiscal rules with the view of enabling public investment." #FinanceForSociety

@thomasfazi.bsky.social at the #FinanceForSociety Forum: "95% of #BlackFriday sales were financed. (...) People are entering long term indebtedness to maintain consumption levels. These kind of high levels of private debt were exactly what caused the last financial crisis."

@dirkehnts.bsky.social on the past examples of using credit policies to steer finance into productive industry at the #FinanceForSociety Forum: "A different world is possible and we have already been there. We need to reimagine it for the XXI century!"

@christinejberry.bsky.social at the #FinanceForSociety Forum: "The financial sector weaponises complexity. We see this playing out in advocacy; shaping complex regulations which are now being unwound because the industry then says they are 'too complex to comply with.' How do we break this cycle?"

@thomasfazi.bsky.social on the financialisation of everyday life through the touristification of cities & the rise of 'buy now, pay later': "The financial establishment has been able to evade scrutiny even as it extends its tentacles in our society and become more influential over our lives."

📣 At our plenary, @thomasfazi.bsky.social, @christinejberry.bsky.social, @andrewwatteu.bsky.social and @dirkehnts.bsky.social discuss how to shift finance to serve people and society, alongside moderator Marek Hudon. A thread 🧵

@geoffmann.bsky.social at the #FinanceForSociety Forum on how uncertainty and crises are shaping our societies, reducing the assumption of a stable horizon: "The now annual ‘hundred-year flood’ is a good metaphor for where we are."

@geoffmann.bsky.social on the need to re-politicise finance at the #FinanceForSociety Forum: "Global tumult has accelerated in the last decade and dangerous is the new normal. But finance is how capital selects its future. Finance is the single greatest means to address an age of uncertainty."

Our secretary-general Benoît Lallemand touches on climate change at the #FinanceForSociety Forum: "Currently, climate scenarios massively underestimate the cost of climate change (...) and even if we recognised the true cost, we still need massive political courage to start addressing the problem"

@geoffmann.bsky.social ponders on the role of finance at the #FinanceForSociety Forum: “Finance is the single most important machine in the construction of the future, the crucial first step in planet-making. It’s the most powerful tool we have to address the future and its uncertainties.”

Today at the #FinanceForSociety Forum, @geoffmann.bsky.social, political economist and professor of geography at Simon Fraser University, touches on how we can hope to reimagine finance for a planet in crisis. Watch now 👇

📢 We’re hiring an Accounting & Operations Intern (3–6 months) in Brussels, supporting accounting (Horus), office & events, HR backup, and statistics tasks. Are you organised, accurate, Excel/Google Sheets–savvy, and fluent in EN, FR or NL?👉 Apply here: www.finance-watch.org/job/job-offe...

🏢 Bankers’ pay rules are not properly linked to green performance. We are calling on @eba.europa.eu to ensure bonuses are tied to long term climate & #ESG goals. 🌍 Remuneration requirements should incentivise the management of climate risks over horizons in which they actually materialise!

🔍 Soon, we’ll be discussing how we can defend and advance a financial system that works for people and the planet at the #FinanceforSociety Forum in Brussels! Register now to join the conversation on 4 Dec 👉 www.finance-watch.org/campaign/fin...

🌍 Following the EP vote to gut EU sustainability rules, @ec.europa.eu has shared the proposal to simplify the Sustainable Finance #Disclosure Regulation. Vincent Vandeloise notes some improvements but warns of greenwashing risks as nearly any investment could be eligible for the new #ESG category.

🪖 The EU is boosting #Defence spending, and some want to label it sustainable. But changing the EU rulebook to make defence count as green finance risks undermining climate goals and the credibility of sustainable finance. #GreenInvestments must stay green!🌱

This #Halloween, a menace looms over the financial system🦇 In #StrangerThings, the Upside Down is a dark reflection of our world. Finance has one too. Shadow banks hold nearly half of global financial assets. It’s time to regulate shadow banks before they strike! A 🧵 1/5

🧵 1/ 🚨 New report from @finance_watch: “Breaking the spiral of uninsurable climate losses” As climate impacts grow, Europe’s insurance safety net is shrinking – leaving taxpayers to pick up the bill. 🧵 Read on ↓

A new era at Finance Watch! Isabelle Buscke will be Secretary General from 1 January 2026. With deep EU policy and public interest advocacy experience, she’ll help advance a financial system that serves society. Our deepest thanks to our outgoing SG, Benoît Lallemand! 🤝 #FinanceWatch #Leadership

📣 BREAKING: Geoff Mann will join the #FinanceforSociety Forum on 4 December in Brussels! A leading voice on the politics of crisis and capitalism’s uncertain future, and author of Climate Leviathan. Join by registering through our website 👉 finance-watch.org/campaign/finance-for-society-forum-2025

📢 We’re hiring! Finance Watch is looking for a Visual Communications Officer to help make finance serve society through creative design and storytelling. 📍 Brussels | 🌍 NGO | 💡 Creative impact 👉 Learn more and apply here: www.finance-watch.org/job/job-post...

🔍 Findings from @InfluenceMap on how the UK oil & gas industry lobbied for subsidies & incentives for Carbon Capture & Storage instead of committing to real emissions cuts. At Finance Watch, we caution that relying on unproven technologies like #CCS fuels greenwashing & delays the transition! 🌍

📣 Ann Pettifor will be at the #FinanceforSociety Forum on 4 December in Brussels! She has been a leading voice on finance & justice and will soon publish her new book The Global Casino on the hidden world of shadow banking. Join us by registering today 👉 www.finance-watch.org/campaign/fin...

📣 Ann Pettifor will be at the #FinanceforSociety Forum on 4 December in Brussels! She has been a leading voice on finance & justice and will soon publish her new book The Global Casino on the hidden world of shadow banking. Join us by registering today 👉 www.finance-watch.org/campaign/fin...

🏦 Banks had more than USD$1.1tn in exposures to fossil fuels on their balance sheets in 2023, a new report from @financewatch.bsky.social found. That’s why there’s a need for a systemic climate risk buffer, said Julia Symon, one of the authors of the report.

📣 ANNOUNCING the #FinanceforSocietyForum 2025! As tensions rise with trade wars, inflation & regulatory rollbacks, academics and civil society must come together in support of resilient, just economies. Save the date and register now 🎟️ www.finance-watch.org/campaign/fin...

Tragedy of the horizons a decade on: climate change threatens financial stability By Julia Symon and Max Kretschmer at @financewatch.bsky.social www.sustainableviews.com/tragedy-of-t...

10 years after Carney’s “#TragedyOfTheHorizon” speech, the warning stands: climate risks remain unpriced, finance keeps fuelling the crisis. Disclosure isn’t enough – systemic reform is urgent: it's time for action. 🌍⏳ 🔗 www.sustainableviews.com/tragedy-of-t... #SafeTransition #BreakTheDoomLoop

🛢️ Neue Zahlen von @financewatch.bsky.social zu Kohle, Öl und Gas in den Büchern der weltweit größten Banken werfen die Frage auf: Hat #BaFin hierzulande solche Kredite und die damit verbundenen Risiken im Blick? Ein 🧵 (1/5)

🧵 New report: “A trillion dollars of climate risk” 📊🔥 Finance Watch’s latest research reveals the world’s 60 largest banks hold $1.1–1.6 trillion in fossil fuel exposures. This creates a dangerous climate-finance feedback loop. Let’s break it down 🧵👇

🌍 Climate change is a macro-critical issue multiplying risks across debt, financial stability, supply chains & infrastructure. Our new briefing highlights 6 key areas where climate must be central to the #IMF mandate👇 www.e3g.org/publications...

⚠️ EU financial chief Maria Luís Albuquerque said 'simpler' #SustainableFinance rules will attract more green capital to Europe. But scaling back reporting & due diligence will undermine credibility and provide a false impression of meeting climate investment needs! What she should do instead 👇

🌍 250+ scholars signed a statement calling to align #Omnibus reforms with climate science. Finance Watch shares their concern for the future of sustainability policy in Europe. Efforts to to 'simplify regulations' should not come at the expense of the integrity & ambition of the EU's green rules!

"Welcome to the new consensus: where military spending could become the next frontier of so-called ‘sustainable’ finance." To protect the integrity of the EU's sustainable finance framework, we must not mix defending sovereignty and investing sustainably. #KeepDefenceOut!

1/ The world’s biggest banks are gaming the system. 🏦 New Bundesbank research shows they hide risk at year-end, just when supervisors check how safe they are.

"AI systems help decide who gets a loan, how much someone pays for insurance, or whether a bank account is closed." My @financewatch.bsky.social colleague @pnorwood.bsky.social warns that it's time for the EU to close regulatory gaps in the EU's #AIAct before innovation comes at consumers’ expense.

📢 #JobAlert: Finance Watch is hiring its new Secretary General! Want to lead the fight to make finance serve the public interest? Full-time, Brussels-based role with strategic, policy and team leadership. Apply now 🔗 www.finance-watch.org/job/job-offe...

🤖 #AI is changing finance, but backing innovation and demanding strong #ConsumerProtection aren’t competing objectives. Fair rules foster trust in AI and the financial system, and help ensure more equitable AI-driven outcomes for all! Explore more in our latest report 👉 bit.ly/3IzNS7P

👀 Unfair commercial practices undermine trust, inclusion and consumer protection. From guilt-tripping pop-ups to greenwashing, algorithmic pricing and dodgy finance influencers, our latest blog breaks down how they work and why they matter. Read more 👇

Meanwhile Julia Symon of @financewatch.bsky.social‬ welcomed the release, but stressed that supervisors “need data to understand the financial risks from climate change”. 📊🌡️ #ClimateDisclosures

Banks must account for the risk of investing in companies that delay #climate action - but current rules are very flexible. Supervisors need to make sure these tests are realistic and do not paint too rosy a picture. Check out our latest recommendations for key steps to avoid misleading results 👇