Categories for Finance

Emissions Trap: Financial Institutions Still Feeding The Gas Industry

April 5, 2023 11:59 am Published by

5 April 2023 - While Europe needs to decarbonize electricity production by 2035 to limit warming to 1.5°C, a new report finds that banks and investors have provided billions of dollars in support to the gas power industry since 2019 [1]. The report’s authors, including Reclaim Finance and Beyond Fossil Fuels, call on financial institutions to restrict support for gas power in Europe to avoid locking-in carbon emissions on a huge scale, and increasing the level of stranded assets by 2035.

Limited Utility: The European energy companies failing on net zero commitments

January 25, 2022 8:58 am Published by

Limited Utility: The European energy companies failing on net zero commitments is an initiative of Europe Beyond Coal and Ember, and investigates whether or not the strategies of the major EU coal-burning utilities align with the urgent need to decarbonise their fossil fuel electricity portfolios and accelerate their deployment of renewables, as outlined in the International Energy Agency’s (IEA) Net Zero Emissions by 2050 report. 

Fool’s Gold: Financial institutions waste billions on coal, undermining climate action

July 15, 2020 10:12 am Published by

European financial institutions and international investors and banks including BlackRock and the Japanese megabanks are keeping Europe’s terminally declining coal industry on life support, handing companies €12 billion in investment, and €9.8 billion in loans and underwriting in less than 1.5 years, according to a new report.

Fool’s Gold

July 15, 2020 8:22 am Published by

Updated for 2020, Fool’s Gold - The financial institutions risking our renewable energy future with coal examines eight European, and four significant international, financial institutions, and finds that all continued to pump money into coal companies in the year after the IPCC released its 1.5 degrees C special report.