Article 2TK8G Global banks reduce lending to dirtiest fossil fuel companies by billions in 2016

Global banks reduce lending to dirtiest fossil fuel companies by billions in 2016

by
Gareth Hutchens
from Environment | The Guardian on (#2TK8G)

World's largest banks lent $87bn to oil, coal and LNG companies in 2016 - a 22% drop from a collective $111bn worth of lending in 2015

The world's biggest banks have reduced their lending to some of the most carbon-intensive sectors of the fossil fuel industry by billions of dollars, marking a potentially seismic shift against coal investment, a new study says.

The report commissioned by environmental groups tracked the lending decisions of 37 banks across Australia, the US, Europe, Canada, China and Japan in the first calendar year since the signing of the Paris climate agreement.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://feeds.theguardian.com/theguardian/environment/rss
Feed Title Environment | The Guardian
Feed Link https://www.theguardian.com/us/environment
Feed Copyright Guardian News and Media Limited or its affiliated companies. All rights reserved. 2025
Reply 0 comments