ESG & Investing
Fossil-Fuel Financing Poses Growing Risks to Biggest Banks
Nonprofit group estimates banks need as much as $210 billion in additional capital to address climate crisis.
Source: Bloomberg
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The steady flow of financing to fossil-fuel companies is posing increasing risks for banks around the world.
In a report published Tuesday, nonprofit Finance Watch estimates that the 60 largest global banks have about $1.35 trillion of credit exposures to fossil-fuel assets.