Banks About to Cut Fossil Fuel Lending

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
finance trading currencies us dollar Money,Close,Up,High,Quality

Banks are still financing fossil fuels generously, but things may change very soon. Most members of the UN-convened Net-Zero Banking Alliance (NZBA) are expected to disclose 2030-35 targets for the most carbon-intensive sectors in their portfolios later this year, including oil and gas, in line with the alliance's deadlines for doing so. "Given the importance and complexity of decarbonizing the oil and gas sector, and the tremendous amount of work required in doing so, it is reasonable to expect that many banks will set targets for this sector at the earliest possible opportunity," the alliance recently stated.

ESG, Equity and Debt Markets, CO2 Emissions
Wanda Ad #2 (article footer)
Many consider carbon capture and storage an almost magical tool to allow the oil industry continue growing, but the reality is different.
Wed, May 31, 2023
The company is developing the Hackberry Carbon Sequestration project, which would store up to 2 million tons/year of CO2 from the Cameron LNG facility.
Fri, Jun 2, 2023