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In a report Reclaim Finance notes that a tightening of the Race to Zero criteria “led to a pushback from some GFANZ members, and especially the big US banks ”. Before GFANZ, not one bank had set or published an interim net-zero target. Today more than half the banks in Net Zero Banking Alliance have set science-based targets for 2030.”
Now, installing new wind turbines or solar farms is cheaper than keeping coal fired plants, as per the investment bank Lazard. Ending fossil fuels subsidies and divesting away from coal will put the final nails in the coffin. This basically kills the business case for coal. Are thorium or fusion credible solutions ?
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