ESG & Investing
Green Fees Overtake Fossil Fuels for Second Straight Year
But the rate of growth may be too slow in the race against global warming.
Photographer: Bloomberg
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For a second straight year, banks are making more money providing loans and underwriting bond sales for green-related projects than they’re earning from fossil fuel companies.
Together, banks have generated about $2.5 billion of revenue from climate-focused financing so far this year, compared with $2.2 billion from their work with oil, gas and coal companies, according to data compiled by Bloomberg.