Banks Drop the Climate Pretense and Follow the Money

Bank faces backlash after helping raise more than $1 billion for controversial venture: 'Keeping its customers in the dark'

HSBC is facing criticism from investors and climate advocates after helping raise $1 billion for Glencore, a major coal producer, despite the bank's public pledge to stop financing coal expansion. What's happening? HSBC struck an investment deal with Glencore in 2023, a stark contrast to its 2021 commitment to cease funding companies increasing their coal output. According to a Bureau of Investigative Journalism report, Glencore has increased it…

Banks increase fossil fuel financing despite climate pledges

The world’s largest banks poured $869 billion into fossil fuel companies in 2024, up sharply from the year before, despite public commitments to fight climate change.Georgina Gustin reports for Inside Climate News.In short:U.S. banks led global fossil fuel financing in 2024, with JPMorgan Chase, Bank of America, and Citigroup providing more funding than any other institutions worldwide.Much of the $869 billion financed companies with clear plans…

Banks Drop the Climate Pretense and Follow the Money

U.S. giants like JPMorgan, Bank of America, and Citigroup are leading the charge, signaling a strategic shift from ESG promises to profitability.

ESG finance education shifts toward pragmatism

Environmental, social, and governance (ESG) finance courses are undergoing a global transformation, moving away from idealistic frameworks to a more grounded, risk-focused approach, according to a recent report by KnowESG. The popularity of ESG curricula surged in the late 2010s, as universities and business schools raced to meet growing student interest, evolving regulations, and heightened investor focus. However, in the United States, particu…