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This, coupled with a nascent taxonomy process, makes investors even more than usually vulnerable to greenwashing. . Different asset managers and banks require different types of data or different granularities of the data, and this creates a reporting, collation and operational burden on companies. .
Richard Brooks, the Toronto-based climate finance director of Stand.earth, an environmental organization, notes the slippery shift from big banks. Slow-walking on climate action is really the new climate denialism, he says. And that is code for We will stay invested in oil and gas companies.
This includes sanctions against Russian banks (access to SWIFT), and bans on exports (electronics, refining equipment, military supplies etc.). Both climate change and Putin’s invasion are directly tied to fossil fuels. The free world has come together to condemn Russia and impose far reaching penalties.
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