From The Financial Post:
A study published Jan. 17 by a dozen groups including Reclaim Finance, Stand.earth, the Rainforest Action Network, Les Amis de la Terre France, and South Africa’s Centre for Environmental Rights, says the 56 largest members of the Net-Zero Banking Alliance — a sectoral subset of GFANZ members — provided loans and underwriting of US$269 billion to 102 large fossil fuel “expanders” since joining Carney’s group.
This financing by global institutions including some of the largest banks in North America and Europe included 134 syndicated loans to 77 companies and US$101 billion in new debt and equity for 74 firms through 215 underwriting transactions, according to research conducted by research institute Profundo, a not-for-profit with a mandate focused on sustainability and social justice, using data from Refinitiv, Bloomberg and IJGlobal.
