World’s largest banks lent $87bn to oil, coal and LNG companies in 2016 – a 22% drop from a collective $111bn worth of lending in 2015
The world’s biggest banks have reduced their lending to some of the most carbon-intensive sectors of the fossil fuel industry by billions of dollars, marking a potentially seismic shift against coal investment, a new study says.
The report commissioned by environmental groups tracked the lending decisions of 37 banks across Australia, the US, Europe, Canada, China and Japan in the first calendar year since the signing of the Paris climate agreement.
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Source: Guardian Climate Change