contribution to climate change, according to new research by the Paris-based nonprofit Reclaim Finance.
More than half of the companies-including 20 of the GFANZ members-have no policies governing their oil-and-gas business. Among the companies with policies in place, the most popular restrictions are bans on several kinds of unconventional oil. More than a third of the firms limit Arctic and oil-sands work, with fewer prohibitions on shale and ultra-deepwater oil.
Just five companies, all banks, have quit or limited financing oil and gas expansion, according to the research.
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