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Canada’s Big Five banks keep moving further away from net-zero

Corporate Knights

A new report renders a damning portrait of Canada’s Big Five banks on their path to net-zero emissions by 2050. The Big Five banks have taken little voluntary action to align their business practices with their own net-zero commitments,” states the report by InfluenceMap , a global corporate research think tank based in London.

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Banks committed to net zero fund “Australia’s dirtiest” offshore gas project, report finds

Renew Economy

Betting on a sinking ship: Nine banks provide key backing for massive and controversial offshore gas reservoir in Timor Sea – despite most pledging net zero targets. The post Banks committed to net zero fund “Australia’s dirtiest” offshore gas project, report finds appeared first on RenewEconomy.

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Are Europe's leading banks flouting net-zero pledges?

GreenBiz

A new analysis reveals Net Zero Banking Alliance members funneled $33 billion towards expanding oil and gas production over the past year, but the banks insist they are working to reduce their exposure to fossil fuels.

Net Zero 324
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Major carbon emitters in Canada are not taking net-zero targets seriously

Corporate Knights

Less than half of Canada’s major carbon emitters have adopted net-zero targets, and none have committed to aligning their capital spending with plans to reduce greenhouse gases, according to a report from Climate Engagement Canada (CEC). CEC, which comprises 41 of the largest asset managers in Canada, with $5.2 However, the lack of 1.5C-aligned

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Mark Carney’s net-zero banking alliance backtracks on compulsory climate targets

Corporate Knights

Just a year ago, Mark Carney inspired optimism among climate finance campaigners by founding a new alliance of banks and other financial institutions that pledged to decarbonize their portfolios. Banks and investors cannot wish away the terrifying math of the global 1.5°C Photo by Bank of England/Flickr.

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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.

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‘Any delay means risk’: Senator looks to speed up banks’ net-zero journey

Corporate Knights

In the pursuit of its net-zero 2050 goal, Canada needs a rigorous strategy to require banks and other key financial system players, including Crown corporations, to fully align their operations with the country’s international climate commitments. Matt Price, co-founder of Investors for Paris Compliance.

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