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The upshot: The world’s biggest banks can’t live up to the green regulatory ideal unless they start dumping huge numbers of clients worldwide at a reckless pace and also roil economies in large swathes of the globe that primarily rely on dirty fuels. Faced with that dilemma, many lenders are quietly reeling in their climate ambitions.
(Bloomberg) -- Judson Berkey didn’t hold back.Most Read from BloombergBiden Gains Ground Against Trump in Six Key States, Poll ShowsJapan Amps Up Intervention Threat as Yen Hits Lowest Since 1990Trump’s Net Worth Hits $6.5 Billion, Making Him One of World’s 500 Richest PeopleUsing Your Premium Credit Card May Cost More After Visa-Mastercard DealTrump Vows to Pay Fraud Trial Bond Cut by 68% to $175 MillionIt was early February and the UBS Group AG banker had WebEx-dialed into a meeting held on th
Campaign group One for One warn fossil fuels should be viewed as the highest risk class of assets and urges government to tighten financial regulations to avert risk of a financial crash
Major banks and asset managers, including BlackRock and Citigroup, are not planning to send their CEOs to the U.N. climate conference known as COP 27.
These are the world's largest banks that are increasing and decreasing their fossil fuel financing CNBC 1 hr ago © Provided by CNBC An oil rig and wind farm in Texas. But that number is not the full story: Some banks have been increasing their business with fossil fuel companies while others have been decreasing during that time. What's clear is the power banks wield in affecting climate change. "Getting lenders to choke off money to fossil fuel companies is the next needed move for the industry to address the material risks that the coal, oil and gas industry faces," says Leslie Samuelr...