thanks to one of our news aggregators here that three “polluting carmakers” were among the 10 companies to receive the mostfrom Voxeurop and European Investigative Collaborations. “Oil and gas companies, carmakers and textile manufacturers make up the biggest recipients of European green funds despite being some of the world’s biggest climate polluters,” Transport & Environment writes.
Does anyone really believe these 10 companies are the companies that deserved to receive the most green funds investment? Or any green funds investments? “The researchers analysed over 4,000 ‘green’ funds in Europe from nearly 800 financial institutions. They found that 200 of the world’s most polluting companies received a total of $85 billion in investments from Article 8 funds and $2 billion from Article 9 funds.”
Additionally, there is no evidence that the capital invested by asset managers covered under this investigation is guided to support these companies in their climate transition and decarbonisation.Ah, yes, and we skipped over the aircraft company. “The inclusion of aircraft manufacturer Airbus in the top 10 recipients of green funds is also a surprise. Airbus delivered over 700 commercial aircraft in 2023. 99.4% of the fuel these planes run on today is fossil fuel.
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