Remove 2021 Remove Banking Remove Stranded Assets
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Can Mark Carney fight climate change while supporting oil and gas?

Corporate Knights

If thats a euphemism for continuing the status quo approach of expanding fossil fuels, that means pipelines going across Indigenous lands, many billions [of dollars] sunk into stranded assets, and climate harm caused by increased emissions, she said.

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Banking on Climate Action

Chris Hall

Increasing scrutiny highlights growing divide between leaders and laggards, with asset owners attempting to close the gap. The banking sectors journey to net zero emissions has the potential to deliver or dash global climate ambitions but that journey is fraught with challenges and complications.

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Why needless growth isn’t needed

GreenBiz

Thu, 05/20/2021 - 02:00. If the world heeds that advice, we’ll leave a lot of stranded assets lying around. Of course, a chorus of activist investors have been pressing investors, banks and companies to examine their risks on stranded oil and gas assets for more than a decade, knowing this day would arrive.

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Canada is sleeping on the energy transition

Corporate Knights

At the same time, the five largest Canadian banks have provided $700 billion to the fossil fuel sector since 2015 and doubled their year-over-year financing in 2021. The inability to prepare adequately for the energy transition will come with significant economic costs.

Net Zero 299
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Business-as-usual no Longer an Option for Banks

Chris Hall

Jessye Waxman, Senior Campaign Representative, Fossil-Free Finance Campaign, Sierra Club, says climate-related shareholder resolutions give banks necessary guardrails for transition financing. These claims are a misrepresentation of resolutions that simply aim to reduce banks’ exposure to climate-related risks.

Banking 98
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Their land, their call: When economic reconciliation and climate justice conflict

Corporate Knights

When those 16 nations went to the bank for financing, they were told there was no point in trying. Enbridge, the multinational energy giant, ended up purchasing the Pacific Trail Pipeline in late 2021 from its original owners, Chevron and Woodside.

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China Stress Tests Find Default Risks in High-emitting Sectors

Chris Hall

Stranded assets, defaults in thermal power, steel and cement sectors may increase if companies do not shift to low-carbon alternatives. The People’s Bank of China (PBOC) has revealed the results of its first phase of climate risk stress tests of major banks in the country.