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Banks flout net-zero targets to cash in on the next LNG boom

Corporate Knights

Liquefied natural gas developers have expansion plans that could release 10 additional metric gigatons of climate pollution by 2030, and major banks and investors are enabling them to the tune of nearly $500 billion. Many large banks have pledged to reach net-zero emissions, yet they are still financing the LNG boom. Citigroup (U.S.)

Net Zero 252
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Insights from green banking: What keeps customers from switching banks?

GreenBiz

Insights from green banking: What keeps customers from switching banks? ESG may be all the rage, but what about retail banking? The deposits you make at your retail bank for personal and business accounts sustain the bank’s ability to make loans and investments. Diane Osgood. Wed, 02/17/2021 - 00:05. is 16 years.

Banking 499
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JPMorgan Chase wants to be the commercial bank for ‘green economy’ companies

GreenBiz

JPMorgan Chase wants to be the commercial bank for ‘green economy’ companies. Part of the commercial banking division, the group will include dedicated bankers led by Brian Lehman, who most recently led the JPMorgan Chase diversified financials team. Sponsored Article. Heather Clancy. Mon, 04/12/2021 - 00:05. The largest U.S.

Banking 404
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HSBC is latest bank to pledge net-zero financed emissions by mid-century

GreenBiz

HSBC is latest bank to pledge net-zero financed emissions by mid-century. HSBC has become the latest bank to commit to achieving net-zero financed emissions, announcing Monday that it intends to align its portfolio of investments and debt financing with global climate targets by mid-century. Cecilia Keating. Tue, 10/13/2020 - 00:46.

Net Zero 402
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Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020

GreenBiz

Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020. Net-zero commitments may have ricocheted across banking sector over the last 18 months, but big banks' attestations of climate concern did not stop many from expanding financing for the world's top fossil fuel firms during the pandemic year.

Net Zero 398
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Is the Competition Bureau's probe into RBC's climate claims a warning to other banks?

Corporate Knights

The federal Competition Bureau’s decision to investigate charges of misleading advertising against the Royal Bank of Canada is a sign that federal regulators are paying closer attention to the climate crisis and its causes, says the environmental law charity that filed the case.

Banking 317
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Episode 236: Banking for the planet and behind the scenes of Generation Green New Deal

GreenBiz

Episode 236: Banking for the planet and behind the scenes of Generation Green New Deal. Bank of the West's checking account for climate (23:40) . In July, Bank of the West, part of BNP Paribas, announced a partnership with 1% for the Planet to launch a checking account designed for climate action. Sponsored Article.

Banking 246