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Bank Fees for Green Debt Surpass Fossil-Fuel Financing

With money pouring into the less-than-transparent ESG market, it was bound to happen. The question now is how long it will last.

U.S. Currency Production At The Bureau of Engraving and Printing
Photographer: Andrew Harrer

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It’s official. For the first time since the unveiling of the Paris climate agreement in 2015, banks earned more fees arranging green-related bond sales and loans than they did helping fossil-fuel companies raise money in the debt markets.