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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.

Net Zero 398
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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.

Net Zero 345
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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.

Net Zero 246
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Geothermal Engineering Raising $745 Million to Produce Zero Carbon Lithium for EVs

ESG Today

Geothermal heat and power company Geothermal Engineering announced today that it is raising £600 million (USD$745 million), with proceeds used to expand its production of zero carbon lithium, a biproduct of its geothermal projects, for use in the rapidly growing electric vehicle market.

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INEOS Raises €3.5 Billion to Build Chemical Plant with Capability for Zero Carbon Footprint

ESG Today

billion in financing for the construction and operation of “Project ONE,” referred to as the “greenest cracker in Europe,” by the company, and capable of operating with zero carbon footprint if powered by hydrogen. INEOS said that once enough low carbon hydrogen is available, the cracker will have a zero carbon footprint.

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2020: Fossil fuels are dead, long live the sun

GreenBiz

Consider this: In April, Royal Dutch Shell, one of the largest companies in the world, announced its intent to become a net-zero carbon company by 2050. No doubt Shell is counting on some miracle like carbon capture to preserve its adherence to a century-old business model of selling oil. Is that possible?

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Natixis CIB: Transition will be a key growth driver

Environmental Finance

The French bank feels it is ahead of the game on ESG and hopes the transition to a net zero-carbon economy will help fuel its ambitious growth plans, Mohamed Kallala tells Peter Cripps