Coal and other fossil fuels remain lucrative despite the fact that investing in them is becoming increasingly risky. That’s one reason some banks and global funds are backing renewables. Is this the start of a rethink?
The financial world is slowly waking up
According to the divestment movement, more than 1,100 institutions, banks and investors around the world have already committed to invest only partially in fossil fuels, or not at all. Together, this group controls an estimated $12 trillion. In 2014, that amount was just $52 billion.
New ECB chief Christine Lagarde wants more focus on climate change
Central bank wants to change course
The Network for Greening the Financial System, founded in 2017, shows to what extent the divestment movement’s pleas have penetrated the control centers of the financial system. The global group of central banks and banking regulators aims to tackle the risks of climate change through monetary policy.
Frobn
Article URL : https://www.dw.com/en/how-divestment-stacks-up-against-fossil-fuels/a-52032277