Live and recent posts from across the Fediverse tagged #moneypipeline, aggregated by home.social.
The #MoneyPipeline is being redirected but not in the direction of climate action.
"Corporate America is struggling to meet its climate goals as sustainability initiatives lose out on funding to competing priorities such as artificial intelligence, cybersecurity and digital transformation.
The result is that many companies are falling behind on their emissions targets."
"Fossil fuel lending is becoming more concentrated, with the ‘dirty dozen’ responsible for 40% of all industry funding. Almost all fossil fuel financing comes from the US, Canada, Japan, China, the UK and the European Union."
“The era of voluntary commitments has not worked at the scale that we need and so this points to a much more active role for financial regulators, legislators and policymakers, especially in those big six financial centers.”
https://www.theguardian.com/environment/2026/jun/09/world-banks-pledge-billions-fossil-fuel-industry-2025
#MoneyPipeline
Money havens obscure pieces of the fossil fuel #MoneyPipeline :
"68 per cent of the #FossilFuelFinancing provided by the world’s 60 largest banks is being granted to subsidiaries in secrecy jurisdictions. With their weak transparency laws, such jurisdictions allow fossil firms to hide details about their ownership structures and financial activity or enable them to pay lower taxes than they should."
"#NewYork’s bill would prohibit insurers from underwriting new fossil fuel projects, require them to phase out support for existing projects, and force insurers to divest from fossil fuel companies. "
https://www.ciel.org/insuring-the-climate-crisis-new-york-bill/
If passed, this bill would throw some valves in the #FossilFuel industry's most important pipeline: the #MoneyPipeline.
"Climate-focused venture capital firm Clean Energy Ventures said Wednesday it raised $305 million for its second fund.
The fund was oversubscribed amid investor appetite for emissions-reducing technologies."
New valves are opening in the #MoneyPipeline
This #MoneyPipeline is destructive
"The report shows high bank financing for the most climate-damaging fossil fuel practices:
Tar sands extraction
Ultra deepwater offshore drilling
Fracking
The top 60 banks by asset size unabashedly financed harmful practices to sensitive biomes: UniCredit committed $265 million to companies involved in Arctic drilling and Bank of America committed to companies extracting oil & gas in the Amazon biome to the tune of $162 million."
https://priceofoil.org/2024/05/14/banking-on-climate-chaos-2024-fossil-fuel-finance-report/
Shut down the #MoneyPipeline
"The 15th annual Banking on Climate Chaos (BOCC) report looked at how the top 60 #banks in the world are underwriting and lending to over 4,200 #FossilFuel firms.
Since the Paris Agreement to limit global warming was signed in 2016, these banks have financed fossil fuels with $6.9 trillion (€6.4 trillion). The report says $3.3 trillion (€3 trillion) - almost half of this amount - went towards fossil fuel expansion alone."
That sound you hear (faintly, for now), is the turning of valves in the most important pipeline of them all: the #MoneyPipeline.
"Banks in #Europe lead retreat away from oil and gas clients
Trend is expected to pick up amid tighter #climate regulations"
"Private credit managers are doing significantly more fossil-fuel deals now than just a few years ago, as they step into a void left by banks exiting assets they worry pose too big a climate risk."
Investors worry more about risk to REPUTATION than risk to actual performance.
"Investors are more concerned about reputational risk to their company than the social and environmental impacts of the companies they invest in."
Whoa.
Sounds like the beginning of a strategy to reconfigure the #MoneyPipeline.
https://www.marketforces.org.au/info/reports/investor-disconnect-climate-risk/
2/
#MoneyPipeline under scrutiny:
"The U.S. Treasury Department's Office of the Comptroller of the Currency (#OCC) carried out its first #ClimateRisk assessment of more than two dozen banks in recent months, laying the groundwork for heightened scrutiny of Wall Street's accounting for such threats.
The regulator used the discovery review to establish a baseline of banks' practices so it has a yardstick with which to assess their progress in implementing the guidance."
"The report from the UN's environmental wing, #UNEP, also revealed that despite decades of calls for ending finance flows towards sectors that harm some of humanity's most valuable assets, those investments currently account for a whopping 7 percent of global GDP."
#MoneyPipeline
https://www.miragenews.com/un-7-trillion-annually-fuels-climate-change-1140575/
Four banks quit initiative assessing #climate targets
"The lenders have abandoned efforts for the Science Based Targets Initiative (#SBTi) to validate their goals because of concerns it could hinder their ability to continue financing #FossilFuels, the sources said."
Um.
This shows two things:
1. SBTi is effective
2. You can tell exactly which banks are unwilling to close the #MoneyPipeline to the planet wreckers.
What drives it varies: from consumer subsidies to tax breaks to producers.
If you think the chart is shocking wait till you see the total: $7 tn in 2022 if you count all the externalities like healthcare costs from air pollution.
Even before the war in Ukraine, the total was $ 6 tn.
Estimated by that socialist bunch, the IMF.
We should totally close that valve in the #MoneyPipeline and re-direct the flow.
"An #ImpliedTemperatureRise is typically calculated based on projected future greenhouse gas #emissions. It estimates the increase in global temperatures that would occur by 2100 if the whole economy were to overshoot its carbon budget to the same degree as a fund’s portfolio."
This could be very useful IFF it is truly "hard to game".
#ITR #investing #MoneyPipeline
https://www.bloomberg.com/news/articles/2023-11-01/temperature-scores-are-painting-a-dark-investing-picture
Alarm bells starting to go off in the #MoneyPipeline
"Markus Müller, #DeutscheBank's ESG Chief Investment Officer, has recently issued a warning to investors about the looming risk of sudden devaluation due to #ClimateChange. "
The implementation of #ClimateRisk disclosure rules in regions such as the #EuropeanUnion and #California has made potential losses increasingly apparent to investors."
That sound you hear is the creaking of valves which have long been stuck in the "fully open" position. The flow in the #MoneyPipeline to #FossilFuel companies is starting to be redirected elsewhere.
In the US, the red states that have been barred from considering ESG in their portfolios will be holding #StrandedAssets sooner or later.
#California SB253 will finally force banks to disclose the #CarbonEmissions of their #MoneyPipeline:
"Big banks are bracing for a sweeping new climate law in California that would for the first time force them to calculate and disclose carbon emissions tied to lending. "
https://www.ft.com/content/88a9f9c8-46ea-4bbd-a678-3769ede55e36
Banks trying to weasel out of their responsibility for carbon emissions in their #MoneyPipeline
"The majority of #banks comprising an industry working group backed a plan earlier this month to exclude two-thirds of the #emissions linked to their #CapitalMarkets businesses from being attributed to them in #CarbonAccounting.
The working group's members are Morgan Stanley, Barclays, Bank of America, Citigroup, HSBC, BNP Paribas, NatWest, and Standard Chartered"
https://www.reuters.com/business/banks-vote-limit-accounting-emissions-bond-stock-sales-sources-2023-07-30/
This tells you the importance of framing:
It used to be that "fiduciary duty" meant financial and company bosses had to go for the highest bottom line no matter what, and ignoring "externalities".
But now "fiduciary duty" includes protection from the mounting climate risks.
Now the power of all that money will be redirected to climate action, as that is what will protect those assets.
In a way, the #MoneyPipeline is the most important pipeline.
"The [#banking] industry needs to explain its #climate measures more accurately.
But perhaps most importantly, the researchers said, if the financial industry is to help in the fight to slow #GlobalWarming, it must stop actively working to make it worse.
Financial firms must stop lobbying against climate action and require their clients and the companies they invest in to do the same."
#MoneyPipeline
https://www.bloomberg.com/news/articles/2023-06-23/why-wall-street-s-climate-efforts-are-falling-far-short-of-net-zero-targets
Subsidies are a huge #MoneyPipeline
"The world finds enormous sums of #money each year for often inefficient and environmentally damaging subsidies to agriculture, fishing, and #Fossil Fuels. How much are we talking about? An enormous amount, it turns out.
Fossil fuel #subsidies are only part of the global subsidy glut. Add direct government expenditures in #agriculture and #fishing to the mix, and you have $1.25 trillion a year"
https://blogs.worldbank.org/voices/hiding-plain-sight-missing-trillions-climate-change
"The goal of the $50 million #Massachusetts Community Climate Bank is to increase investment in the reduction of greenhouse gas #emissions from the #building sector, focused in large part on #affordable and public #housing developments, said Healey, a Democrat."
A welcome change in the #MoneyPipeline
https://apnews.com/article/green-bank-climate-change-housing-1cc38bcb04d7a05d49d7f1117e8f4fca
Members of Climate Action 100+ , the largest #investor coalition focused on convincing the corporate world to act on #ClimateChange, are just unwilling to rock the -- oil platform, preferring to nudge.
"The critics also say the absence of board challenges bodes poorly for CA100+'s goal to get polluters to cut #emissions by 2030."
#MoneyPipeline
https://www.reuters.com/sustainability/investors-biggest-climate-pressure-group-dont-like-pressure-2023-06-12/
Going beyond redirecting the #MoneyPipeline from dirty to #CleanEnergy, #GFANZ floats the possibility of a MANAGED PHASEOUT of coal plants in Asia.
"The world’s biggest #ClimateFinance alliance has launched a public consultation on its guidance for financial institutions and others working to accelerate the managed #phaseout of #coal power in Asia."
#MPO
https://www.bloomberg.com/news/articles/2023-06-05/top-climate-finance-group-consults-on-asia-coal-phaseout-guidance
" #Investment in renewable energy is expected to reach a cumulative $US4.3 trillion this year.
For every $US1 invested in #FossilFuels, $US1.7 is now being invested in #RenewableEnergy."
But that leaves plenty for #FossilFuel investments, while those, and subsidies, need to come down to zero.
The fossil fuel #MoneyPipeline needs to be shut down.
"Influential #proxy adviser Institutional Shareholder Services (#ISS) has recommended that investors in #TotalEnergies back a shareholder resolution urging the group to do more to cut its #emissions."
This is quite a coup for the activist #investor group #FollowThis.
#MoneyPipeline #AGM
https://www.ft.com/content/dd430ab4-c747-4555-bf05-fa6f70d28145
"On Wednesday, #Republican attorneys general from 17 states filed a motion with the Federal Energy Regulatory Commission asking the agency to stop #BlackRock from buying $10 million voting shares in any #utility that adopts the firm’s #ESG priorities. That acronym has become synonymous with #climate-conscious investing, meaning money managers are taking #ClimateChange and other sustainability measures into account in their decision-making."
#MoneyPipeline
https://insideclimatenews.org/news/12052023/gop-esg-woke-finances-climate/
"The US Export Import Bank's financing is "set to help bolster #gasoline production by 101,000 barrels per day at the PT Kilang Pertamina Balikpapan Petroleum #Refinery.
Friends of the Earth and Oil Change International noted in a report last year that "fossil fuels dominate EXIM's #energy portfolio," "
#MoneyPipeline #Indonesia
https://www.commondreams.org/news/biden-indonesia-oil-refinery
"#BNPParibas, France's largest lender, will no longer provide any financing dedicated to the development of new #oil and #gas fields.
[But #climate activist groups say] Indirect funding of gas projects via loans to involved companies, as well as the bank's handling of corporate bonds, were loopholes BNP still needed to close.
#MoneyPipeline
https://www.reuters.com/business/sustainable-business/bnp-paribas-will-no-longer-provide-financing-development-new-oil-gas-fields-2023-05-11/
That sound you hear is of valves in the #MoneyPipeline being turned.
It's the response to government policy.
So by all means, drive less, fly less, eat less meat. But if you can also help push your government - at all levels - to climate action you will have success beyond the walls of your own house.
Most politicians just need to feel you've got their backs. So push them, then give feedback: sticks if they're bad boys n girls, compliments if they're good.
The publicly held central bank of Switzerland, #SNB:
"While the national embarrassment of the forced takeover of [#CreditSuisse] remains a political hot potato, green activists may grab the most attention as they seek to influence how the central bank invests its 743 billion-franc ($833 billion) foreign-currency trove" which includes billions in #FossilFuel holdings.
#ClimateInvestors #AGM #MoneyPipeline
https://www.bloomberg.com/news/articles/2023-04-26/snb-faces-day-of-discord-with-venting-on-climate-credit-suisse
"In 2022 alone, the world's biggest private-sector #banks still financed #coal, #oil, and #gas to the tune of $673 billion, the report notes, even as the #FossilFuel industry raked in a record-high $4 trillion in #profits amid Russia's invasion of Ukraine, which sent #energy prices soaring. "
#ClimateChange #ClimateJustice #MoneyPipeline
https://www.commondreams.org/news/big-banks-funding-fossil-fuels-since-paris