Banks Shed Light on Steps to Curb Oil, Gas Lending

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Banking giant HSBC said last week it will reduce oil and gas financed emissions by 34% over 2019-30 as a first step toward full decarbonization by 2050. While quite significant, this is not the first one in a series of similar announcements major banks, mostly in Europe, have made in the past few months. It follows the launch in April last year of the UN-convened Net-Zero Banking Alliance (NZBA), which has grown to represent almost 45% of global banking assets. NZBA is one component of the $130 trillion strong Glasgow Financial Alliance for Net-Zero (Gfanz).

Equity and Debt Markets, ESG, CO2 Emissions
Wanda Ad #2 (article footer)
The voluntary carbon market is a fast growing beast, and that rapid growth is attracting scrutiny that has recently grown much worse.
Wed, Jan 25, 2023
In Brussels nuclear is the energy that dare not speak its name, but it still may benefit from electricity market design changes under consideration.
Fri, Jan 27, 2023
The US major has kicked off 2023 with a sizeable dividend hike and a massive increase in its share repurchase authorization.
Wed, Jan 25, 2023