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Financial Centers Are Far From Net Zero With Heavy Emitting Listings

Exchanges are helping facilitate ongoing carbon-intensive activities of fossil-fuel companies, according to a report. 

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Photographer: Michael Nagle/Bloomberg
Corrected

Stock markets in cities and countries that have pledged to achieve net-zero emissions are including carbon-intensive oil and gas companies capable of overheating the planet, according to a report from UK research nonprofit Carbon Tracker Initiative. 

Despite financial centers like New York or London setting goals to transition to a low carbon economy, the report’s authors say that stock exchanges “enable” the ongoing activities of fossil fuel companies by facilitating “primary equity raising and ongoing finance requirements.”