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Banks spending trillions to finance causes of climate crisis in Global South: report

Corporate Knights

Banks are shelling out more than US$500 billion a year to finance the largest contributors to climate change in the Global South, a region that is especially vulnerable to the roiling weather disasters gripping the planet. It found that banks have provided an estimated $3.2 It found that banks have provided an estimated $3.2

Banking 350
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Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020

GreenBiz

Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020. Net-zero commitments may have ricocheted across banking sector over the last 18 months, but big banks' attestations of climate concern did not stop many from expanding financing for the world's top fossil fuel firms during the pandemic year.

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Investors crank up the heat on bank fossil fuel financing

Corporate Knights

New research reveals that banks are doing little to finance a low-carbon future, while investing trillions in multinational oil companies, some of which have doubled their profits in the last year. billion in 2016 and $34.5 billion in 2016 and $34.5 During that timeframe, the banks continued to pour $2.3

Banking 350
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Bank financing for fossil fuels dips second year in a row

Corporate Knights

The 60 largest banks in the world have provided US$6.9 trillion in financing to the fossil fuel industry in the eight years since the Paris Agreement was signed, according to a comprehensive new report. But she says it’s too early to conclude that banks have reached peak fossil fuel financing. based bank JP Morgan Chase.

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Morgan Stanley will measure CO2 impact of loans and investments

GreenBiz

bank to commit to measuring and disclosing the climate impact of its loans and investments, announcing last week that it has joined a multi-trillion dollar group of global financial institutions developing a standardized method for carbon accounting. Morgan Stanley has become the first major U.S. trillion in assets. trillion in assets.

Banking 365
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Fossil fuel expansion will be the litmus test for banks’ net-zero promises

Corporate Knights

Many of the world’s biggest banks face the enormous challenge of realigning their entire loans and investment operations in the coming years to put themselves on a credible path to achieve net-zero carbon emissions by 2050. Royal Bank of Canada and Toronto-Dominion Bank. Royal Bank of Canada and Toronto-Dominion Bank.

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BNP Paribas Sued over Fossil Fuel Financing

ESG Today

A group of French NGOs, including Friends of the Earth (Les Amis de la Terre) France, Notre Affaire à Tous and Oxfam France announced today that they have launched a lawsuit against Paris-based global bank BNP Paribas, targeting the bank’s financing for new oil and gas projects.

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