HSBC, Europe’s biggest bank, announced Wednesday it will no longer finance new oil and gas fields as part of its updated climate strategy. The bank said it would still provide financing to existing fossil fuel projects “in line with current and future declining global oil and gas demand.” It would also continue to provide finance and advisory services to energy …
A revised World Bank policy on climate change commits to making financing decisions in line with efforts to limit global warming, but stops short of promising to halt funding of fossil fuels, according to a draft bank presentation seen by Reuters. The World Bank, the biggest provider of climate finance to developing countries, is finalizing a new five-year climate action …
LOADING ERROR LOADING The world’s largest banks have funneled $3.8 trillion into the fossil fuel industry over the last five years, according to new figures published Wednesday. “Major banks around the world, led by U.S. banks in particular, are fueling climate chaos by dumping trillions of dollars into the fossil fuels that are causing the crisis.” JPMorgan Chase provided $51.3 …
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