#fossilfinance — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #fossilfinance, aggregated by home.social.
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Ist Sklavenhandel und Drogenschmuggel nur etwas für Profis?
https://www.tagesschau.de/wirtschaft/energie/rohstoffe-investments-100.html
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IISD research concludes that public international #fossilfinance is falling. But clean energy finance is not being ramped up correspondingly https://www.climatechangenews.com/2024/08/29/leaders-are-cutting-fossil-fuel-finance-next-comes-unlocking-clean-energy-for-all/
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Lawsuit against ING, the biggest commercial bank in the Netherlands, because of it's financing of fossil fuels:
"… the Dutch NGO that successfully sued Shell over its climate plans is taking those financial backers to court in a case that could help reverse the global banking sector’s support of fossil fuel firms and their activities."
https://www.desmog.com/2024/01/26/milieudefensie-climate-lawsuit-shell-netherlands-ing-bank/
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"ExxonMobil sues to block shareholder climate petition …
ExxonMolbil says that the defendants are trying to 'force ExxonMobil to change the nature of its ordinary business or to go out of business entirely'"
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"The OECD must take its chance to stop funding oil and gas …
Despite being one of the world’s most influential trade bodies, decisions at the OECD often happen behind closed doors.
Members say that this allows them to get on with 'building better policies for better lives' without distraction.
The problem is that channelling billions of dollars of public money into fossil fuels each year doesn’t square with that aim."
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"One of the owners of GB News runs a hedge fund that has a major financial stake in more than 100 oil and gas firms, DeSmog can reveal."
#UK #GBNews #GreatBritain #PaulMarshall #FossilFinance #MediaCorruption
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"Banks pumped more than $150bn last year into companies whose … projects could destroy the last chance of stopping the planet heating to dangerous levels
… 425 extraction projects that …cumulatively hold enough coal, oil and gas to burn through the rapidly dwindling carbon budget four times over."
#FossilFinance #ClimateCrisis #JPMorganChase #Citi #BankOfAmerica #ICBC #BNPParisbas #BankOfChina #WellsFargo #HSBC #Barclays #IndustrialBank
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"Banks pumped more than $150bn last year into companies whose … projects could destroy the last chance of stopping the planet heating to dangerous levels
… 425 extraction projects that …cumulatively hold enough coal, oil and gas to burn through the rapidly dwindling carbon budget four times over."
#FossilFinance #ClimateCrisis #JPMorganChase #Citi #BankOfAmerica #ICBC #BNPParisbas #BankOfChina #WellsFargo #HSBC #Barclays #IndustrialBank
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"Banks pumped more than $150bn last year into companies whose … projects could destroy the last chance of stopping the planet heating to dangerous levels
… 425 extraction projects that …cumulatively hold enough coal, oil and gas to burn through the rapidly dwindling carbon budget four times over."
#FossilFinance #ClimateCrisis #JPMorganChase #Citi #BankOfAmerica #ICBC #BNPParisbas #BankOfChina #WellsFargo #HSBC #Barclays #IndustrialBank
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"Banks pumped more than $150bn last year into companies whose … projects could destroy the last chance of stopping the planet heating to dangerous levels
… 425 extraction projects that …cumulatively hold enough coal, oil and gas to burn through the rapidly dwindling carbon budget four times over."
#FossilFinance #ClimateCrisis #JPMorganChase #Citi #BankOfAmerica #ICBC #BNPParisbas #BankOfChina #WellsFargo #HSBC #Barclays #IndustrialBank
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"Banks pumped more than $150bn last year into companies whose … projects could destroy the last chance of stopping the planet heating to dangerous levels
… 425 extraction projects that …cumulatively hold enough coal, oil and gas to burn through the rapidly dwindling carbon budget four times over."
#FossilFinance #ClimateCrisis #JPMorganChase #Citi #BankOfAmerica #ICBC #BNPParisbas #BankOfChina #WellsFargo #HSBC #Barclays #IndustrialBank
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"Concentration of asset owners exposed to power sector stranded assets may trigger climate policy resistance
Limiting global warming … would leave the Asia-Pacific, Europe and the US 'highly exposed to stranded assets, especially coal plants', a new paper finds. 'Listed owners may face stranded assets of up to 78% of their share price or more than 80% of their equity'"
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"California Pension Funds Have Billions Invested in Fossil Fuel Companies Named in State’s Lawsuit"
https://www.desmog.com/2023/10/12/california-pension-funds-divest-legislation-newsome-fossil-fuel/
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"Saudi Arabia, Russia urge World Bank to keep funding fossil fuels
Major oil and gas producers hit back at World Bank reforms that aim to channel more money into clean energy"
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"…banks are continuing to offer 'hidden' financial support to energy companies that are responsible for increasing the world’s carbon emissions – even as they pledge publicly to phase out direct lending for new projects…
Europe’s top facilitators of fossil fuel bonds, according to the research, were Germany’s Deutsche Bank, Britain’s HSBC and Barclays, and the French banks Crédit Agricole and BNP Paribas"
https://www.theguardian.com/business/2023/sep/26/europes-banks-helped-fossil-fuel-firms-raise-more-than-1tn-from-global-bond-markets#FossilFinance #FossilFuelIndustry #DeutscheBank #HSBC #Barclays
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ING en ABN Amro beloofden ‘ambitieuze klimaatactie’ om de hele economie in 2050 klimaatneutraal te maken. Maar ING hielp de fossiele industrie sinds de ondertekening van het Klimaatakkoord van Parijs aan 83,2 miljard euro, ABN Amro: 42,4 miljard. In totaal werd in Europa werd voor meer dan een biljoen euro aan fossiele obligaties op de markt gebracht #FossilFinance
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"A recent divestment bill that would have directed managers of California’s public pension and teachers’ retirement funds to stop investing in the 200 largest oil, gas and coal companies failed in the Legislature for the second year in a row."
https://www.desmog.com/2023/08/18/one-person-stopped-californias-divestment-from-fossil-fuels-again/
#California #FossilFinance #PensionFunds #Divestment #FossilFuelIndustry
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"Mainstream economists accused of playing down climate threat …
'What economists have done is say that climate change is a cat in the bush, not a tiger'
… if investors’ expectations don’t catch up with the physical climate science in an orderly manner, then they will do it in an 'unpleasant, abrupt and wealth-destroying' way."
https://www.climatechangenews.com/2023/08/08/economics-climate-threat-models/
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"BP 'surprised investors' by increasing the dividend by 10% …
[BP is] positive about the future for fossil fuels, describing demand for oil as 'incredibly strong', with 'constructive' prices expected in the year ahead"
#BP #BritishPetroleum #FossilFuelIndustry #FossilFinance #ClimateCrisis
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"Pension funds are risking economic catastrophe by relying on flawed economic advice around climate risk, finds a new report published by the think tank Carbon Tracker.
Financial institutions are underestimating the dangers and economic damages of climate change by relying on research from a small group of climate economists that ignores the impact of climate 'tipping points'"
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"the financial community started walking back their ESG [Environmental Sustainability Governance Goals] pledges almost as soon as they made them …
BlackRock has decided to add the CEO of Saudi Aramco to its board of directors. Saudi Aramco happens to be responsible for more carbon emissions than any corporation in human history"
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"EU must pick up speed on climate action, net-zero watchdog warns
… analysis of the finance sector was 'the most worrying' … moving in the wrong direction.
Fossil fuel investment and subsidies continue to plague the EU’s commitments to emissions reductions. Between 2015 and 2020, … authorities within the EU decreased environmental taxation and increased funding for fossil fuels to approximately €1.5bn per year.
https://www.energymonitor.ai/policy/eu-net-zero-transition-too-slow-ecno-report/