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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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‘Any delay means risk’: Senator looks to speed up banks’ net-zero journey

Corporate Knights

In the pursuit of its net-zero 2050 goal, Canada needs a rigorous strategy to require banks and other key financial system players, including Crown corporations, to fully align their operations with the country’s international climate commitments. Matt Price, co-founder of Investors for Paris Compliance.

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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. “We Royal Bank of Canada and Toronto-Dominion Bank.

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Are you greenwashing, wishing or walking?

GreenBiz

Helle Bank Jorgensen. Companies and countries all over the world are committing to net-zero goals and pledges to the SDGs; diversity, equity and inclusion goals; human rights — the list goes on. We need to put a lot of zeros on the "More than 1,000 businesses" in order to get to a net-zero carbon economy.

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HSBC invests in world’s first ‘reef credit’ system

GreenBiz

The financial services firm recently completed the purchase of the first tranche of reef credits and plans to continue buying them as part of its net-zero commitment. These nature-based solutions are going to become increasingly important," said Hamish Kelly, managing director of global banking, Australia at HSBC. "We

Net Zero 467
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Fossil Fuels vs Renewables in the Race to Net Zero

3BL Media

DESCRIPTION: The race is on, proclaims the United Nations, to create a Net Zero economy (same amount of greenhouse gas /GHG emissions removed from the atmosphere as produced). Public conversations about Net Zero are usually about “fossil fuels vs. renewables” and the impact of each category on climate change.

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JPMorgan Raises Targets to Reduce Financed Emissions to Align with Net Zero by 2050

ESG Today

JPMorgan Chase announced updates to its interim financed emissions reduction targets for three carbon-intensive sectors, including Oil & Gas, Electric Power and Auto Manufacturing, raising the ambition for each to align with pathways required to achieve net zero by 2050. million CO2e.

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