Banking on Climate Change: Fossil Fuels finance report card 2018

November 29, 2018 6:22 PM
Originally published by Green Liberal Democrats

This ninth annual fossil fuel finance report card grades banks
on their policy commitments regarding extreme fossil fuel
financing and calculates their financing for these fuels from
2015 to 2017.

Not good, but essential reading:

"The policy assessment shows that no bank has yet truly
aligned its business plan with the Paris Climate Agreement,
whose temperature goals require banks to cease financing
expansion of the fossil fuel sector.1
Banks also must end their
support for extreme fossil fuels. French bank BNP Paribas has
the best grades on average, with restrictions for not just coal
financing, but for some parts of oil and gas as well. The lack of
comprehensive policies from all banks on extreme fossil fuels
means that last year's increase in financing could continue and
even accelerate in the years to come."