Photo Credit:Fair Use [17 U.S.C. § 107]

Banks Have a Climate Problem

14 Apr 2023 | Abstracted from Semafor

There are two types of emissions targets for banks: Absolute...aims for a specific total volume of emission cuts relative to a baseline, and intensity...aims for a specific level of emissions per dollar of financing.

"...the climate plans of six major U.S. banks...are on track to be where they need to be by 2030 to limit warming to 1.5 C. Only Bank of America is on track for 2 C...60 largest global banks...dedicated $5.5 trillion in total $5.5 trillion in total to oil, gas, and coal since 2016."

ADDITIONAL RELATED NEWS LINKS