Banks haven't quit coal. Study says commercial lenders have channeled $1.5 trillion to the industry since 2019

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Banks haven't quit coal. Commercial lenders have channeled $1.5 trillion to the industry since 2019

Indeed, financial institutions from just six countries — the U.S., China, Japan, India, Canada and the U.K. — were seen to be responsible for more than 80% of coal financing and investment.

"These financial institutions must come under fire from all quarters: civil society organizations, financial regulators, customers and progressive investors," Katrin Ganswindt, head of financial research at Urgewald, said in the report. "Unless we end financing of coal, it will end us." Coal is the most carbon-intensive fossil fuel in terms of emissions and therefore the most critical target for replacement in the transition to renewable alternatives.

Fog shrouds the Canary Wharf business district including global financial institutions Citigroup Inc., State Street Corp., Barclays Plc, HSBC Holdings Plc and the commercial office block No. 1 Canada Square, on the Isle of Dogs on November 05, 2020 in London, England.The International Energy Agency has made clear that unless coal is

 

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Maybe we are asking the wrong questions What are the alternatives to -Coal -Plastic and the rest of the polluting gang

1.5$ trillion is big

Nuclear power sounds pretty awesome.

Sensible too. Pontificating on ESG won't keep your attic warm in a freezing cold winter night. It needs many decades of investment in Renewables before we can talk of ending Coal

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