Banks and investors’ backing of fossil fuels clash with their climate pledges

Gas climate carbon 2019 demo Drax from PA 26Feb21 v2 575x375
By Jon Hay
25 Feb 2021

Banks and investors’ claims to be acting on climate change appear to clash with the financing they still provide in the real economy, research showed this week — such as plans to increase fossil fuel production and consumption, even in the UK and France.

By 2025, the UK is due to have closed its last coal power plants and decommissioned half its nuclear energy fleet. But a new set of gas power stations could take their place, militating against the government’s intention to cut carbon emissions to net zero by 2050.

The ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial