Money For New Energy
Sustainable banking is an important part of addressing climate change; Sustainable banks drove a record amount of clean energy investment last year.
November 30, 2021 (Grist)
“…[T]he financial industry will play a major role in meeting climate targets…Green banks – financial institutions or facilities dedicated to accelerating the shift to a sustainable economy – drove a record amount of clean energy investment last year…[According to RMI’s 2020 State of Green Banks report,] total investment in clean energy was $7 billion...[and green] lending currently represents less than 2% of all loans globally.
…To hit the U.N.’s emission reduction target of capping global warming at 2 degrees Celsius, annual global emissions will need to be reduced by 50% within the next decade…[and] renewable energy projects need to reach $5 trillion a year by 2030 to meet these emission targets…[Some financial services providers with a focus on sustainability] won’t put customer funds with banks that invest in the fossil fuel industry, a practice that is common among even private and commercial investment banks pledging to achieve ‘net-zero’ financing…” click here for more