They’re indirectly financing fossil fuels.
Even tech companies that have promised to slash their greenhouse gas emissions have a big climate-related blind spot, according to a new
into heavily polluting industries. Emissions associated with that financial activity are so significant that they actually far exceed emissions from each company’s operations, the report finds.into heavily polluting industries The problem stems from how banks decide to use their clients’ funds. When companies entrust banks with their cash, the banks put that money to work. The money might be used to finance energy projects or grant loans to other companies. The 60 biggest commercial and investment banks in the world have collectively invested $4.6 trillion in the fossil fuel industry since 2015, according to the report.
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