Stranded Assets
The Finance Industry Passed a Climate Turning Point This Year
Here are some developments that moved the needle on Wall Street’s approach to the environment, and what to watch out for next year.
Photographer: Sam Kang Li/Bloomberg
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This was the year when making strong statements on climate change became de rigueur for the financial sector. From BlackRock chief Larry Fink’s global warming-themed scarf at Davos, to several big Wall Street banks announcing a sustainability plan, to major Japanese and Korean financial institutions pledging to restrict financing for regional coal projects, there was a constant stream of fresh, green declarations.