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Banks Face Growing Pressure to
Phase Out Fossil-Fuel Lending

Original Article

Posted By: NorthernDog, 4/18/2021 8:53:11 PM

Investors managing $11 trillion have called on the world’s biggest banks to phase out financing of fossil-fuel companies and throw their weight behind the goals of the Paris climate agreement. Asset managers, including Federated Hermes Inc.’s EOS division and Pacific Investment Management Co., have asked 27 banks to commit to eliminating emissions across their operations by 2050, including those generated from lending, trading and underwriting, and set interim reduction targets. The group of 35 investors, which was convened by the Institutional Investors Group on Climate Change, also said the banks should expand their green finance activities and withdraw from any

Comments:

A good test for 'woke' businesses. Will you divest of billions of dollars to appease the left-wing activists?

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Reply 1 - Posted by: RuckusTom 4/18/2021 8:58:52 PM (No. 758947)
Make sure all products (including keyboards) are made of wood. And don't drive around in electric cars using synthetic tires. By the way, there's more stuff made from oil by-products than gasoline and engine oil.
26 people like this.

Reply 2 - Posted by: TLCary 4/18/2021 9:19:31 PM (No. 758962)
Once we had a government elected by the people that had this kind of power. There are new masters in town.
7 people like this.

Reply 3 - Posted by: DVC 4/18/2021 10:01:41 PM (No. 758989)
Some really great business opportunities opening up in banking......
10 people like this.

Reply 4 - Posted by: Dodge Boy 4/18/2021 10:52:59 PM (No. 759039)
Ok, lefty banks, so ban loans to coal mining and oil & gas development and we'll let your CEOs freeze in the dark. But, unfortunately, unless we ourselves prepare, we will, too.
5 people like this.

Reply 5 - Posted by: Safari Man 4/18/2021 11:08:48 PM (No. 759052)
BAN jet travel for ALL dimocrats.
8 people like this.

Reply 6 - Posted by: Pearson365 4/18/2021 11:20:37 PM (No. 759061)
“ The problem we face today is that too many banks fail to consider climate harm when they make financing decisions.........” said Natasha Landell-Mills, head of stewardship at Sarasin & Partners.being Why are we being led into a greatly reduced standard of living, if not a serious economic depression by these self-appointed elitists? If banks cannot lend to the fossil fuel producers, how can they lend to the consumers of fossil fuels, from the auto and truck industries and auto and truck buyers, the airlines, furnace manufacturers, boat builders and construction companies? And to us, since most of us buy gasoline with a credit card while heating our homes, offices, stores and factories with either oil or natural gas. Only good thing about these left wing investment firms is that the last person left won’t have to turn out the lights; they won’t be on.
8 people like this.

Reply 7 - Posted by: stablemoney 4/18/2021 11:48:31 PM (No. 759074)
These investors will not be successful, and they should hope a lot that they are not, because if they damage a person's business, they are going to have to pay for it.
5 people like this.

Reply 8 - Posted by: Rumblehog 4/19/2021 1:15:02 AM (No. 759110)
These dumbarses are just going to turn the global oil business over to the Chinese banks. Fools!
6 people like this.

Reply 9 - Posted by: Trigger2 4/19/2021 2:51:01 AM (No. 759146)
Banks should just tell the agitators to go straight to hell.
2 people like this.

Reply 10 - Posted by: Sully 4/19/2021 5:25:17 AM (No. 759172)
The article seems to imply that worlds financial institutions should convert to providing capital for the carbon credit schemes. “Do you guys think of it as a climate thing? Because we really think of it as a how-do-you-change-the-entire-economy thing." Saikat Chakrabarti
2 people like this.

Reply 11 - Posted by: franq 4/19/2021 5:28:44 AM (No. 759173)
Know what I find amazing? I was almost 60 until I heard that oil doesn't come from dead dinosaur bones. Never even stopped to think how many dinosaurs that would take.
1 person likes this.

Reply 12 - Posted by: WhamDBambam 4/19/2021 7:18:21 AM (No. 759232)
Shareholder derivative suits.
2 people like this.

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