Banks ramp up fossil fuel funding in defiance of net zero pledges
The world’s largest banks have significantly increased their support for the fossil fuel industry, despite pledging to align their financing practices with the Paris Agreement
Banking
UK banks plough £119bn into fossil fuels despite green pledges
Despite climate pledges, Britain’s biggest banks have channelled twice as much funding into fossil fuels as into green ventures, raising concerns over greenwashing and policy loopholes, InfluenceMap argues.
Banking on bankers: is investor pressure on fossil fuel lenders falling short?
Despite consistent investor demand, most banks are yet to refine their transition strategies
Triodos Bank exits NZBA after alliance drops 1.5°C target
Dutch lender Triodos Bank has announced its decision to leave the Net-Zero Banking Alliance (NZBA), following a majority vote among the network’s 120 members to ease conditions for membership
Nordea confirms quarantine for fossil fuel major
Nordea Group has confirmed an effective quarantine on TotalEnergies, with no further bonds or shares being bought amid growing concerns about the firm’s fossil fuel expansion in East Africa
Nordea shareholders reject resolution on fossil fuel lending
Nordea shareholders have overwhelmingly voted against a shareholder proposal in Helsinki today, asking the firm to cease lending and investment in fossil fuel companies that lack Paris-aligned transition plans
Nordic banks in the firing line over fossil fuel lending
The largest banks in the Nordics are continuing to finance the expansion of coal, oil, and gas production, despite their commitments to the Paris Agreement, new research finds
EBA’s new guidelines offer a beacon of hope amid regulatory uncertainty
Natasha Chaudhary, a research fellow at the Institute for Climate Economics (I4CE) in Paris argues that the European Banking Authority’s (EBA) new guidelines on ESG risk management are encouraging
NZI with Mona - NZBA exits with Jeanne Martin
With leading US and Canadian banks announcing their departures from the Net Zero Banking Alliance, NZI editor Mona Dohle speaks to Jeanne Martin, head of the Banking Programme at Share Action about the role could investors could play in holding banks accountable on climate action.
Could Canadian banks join the NZBA exodus?
Just days after some of the largest banks in the US announced their departure from the Net Zero Banking Alliance (NZBA), the CEOs of two of Canada’s largest banks have suggested they may be reviewing their membership of the climate network.
Unpicking the fallout of GFANZ’s restructuring
As GFANZ, the world’s largest climate coalition adjusts its membership criteria in the wake of prominent departures, what does the network’s shift in strategy mean for the future of climate alliances?
85% of banks still willing to finance new coal, TPI report finds.
Despite the pressure this proxy season, banks are falling short of investor expectations
More carbon, more interest: Europe’s banks price in climate risk
New research from the ECB shows banks are increasingly penalising polluters
Border to Coast continues engagement with Shell after ‘disappointing’ climate targets
Border to Coast, the pooling vehicle for 11 Local Government Pension Scheme (LGPS) funds, has reported that its stewardship with supermajor Shell is “ongoing” despite reporting “disappointment” over “inadequate” climate targets
BNP Paribas ceases underwriting of coal and gas bonds
French lender BNP Paribas has effectively ceased to participate in the issuance of bonds by the oil and gas sector, the bank confirmed at its AGM this week, in one of the most drastic pushbacks to fossil fuel lending so far