Partial photo: Jason Blackeye
Coal is the number-one single source for increasing global temperatures, with coal-fired electricity generation accounting for 30% of the world’s CO2 emissions. Unfortunately scores of banks and institutional investors continue to pour money into supporting and expanding this industry. As of January 2021, institutional investors worldwide held investments worth more than $1 trillion in coal, with U.S. investors collectively holding 58% of it. And commercial banks have increased their funding of coal companies since the 2016 signing of the Paris climate agreement. The United Nations’ Intergovernmental Panel on Climate Change says coal must be phased out by 2050 if the world is to have a chance of tackling the climate crisis.
www.huffpost.com/entry/coal-investment-banks-investors-climate-change_n_60368dd1c5b6c68044857b26