Bankrolling Climate Change NGOs present groundbreaking research on banks’ involvement in coal financing. The State of South Carolina Retirement System invests in many of the worst offenders.
We all know that climate change is happening.
But do we know who is financing the dirty energy investments that are heating up the globe?
Until now, little was known about banks’ role and responsibility for global warming. While most large commercial banks provide figures on their annual investments into renewable energy, they neither track nor publish their annual investments into fossil fuel projects. Many banks have made farreaching statements on climate, but are they putting their money where their mouth is?
This study presents new research on the portfolios of 93 of the world’s leading banks. It examines their lending for the coal industry, the prime source of global CO2 emissions. It provides the first comprehensive climate ranking for financial institutions and identifies the top “climate killers” in the banking world.
