Climate alarmists are warned that banks won’t play their part in “net zero” commitments
BY RHODA WILSON ON APRIL 2, 2024 • ( 10 COMMENTS )
The financial industry’s initial rush to commit to net zero carbon footprints at the 2021 COP26 summit in Glasgow has hit a reality check.
Banks that pledged to reduce financed emissions and invest billions in “green” and “sustainable” deals are re-evaluating their net zero commitments after facing the realities these drastic changes will have on their business.
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A report by Bloomberg at the end of March highlighted the challenges faced by banks in meeting unrealistic climate goals while maintaining their client base.
The world’s biggest banks can’t live up to the green regulatory ideal unless they start dumping huge numbers of clients worldwide at a reckless pace and also roil economies in large swathes of the globe that primarily rely on dirty fuels. Faced with that dilemma, many lenders are quietly reeling in their climate ambitions,” Bloomberg wrote.
https://expose-news.com/2024/04/02/climate-alarmists-are-warned-that-banks-wont-play/
