What are banks doing to help fight climate change?
All banks have great marketing material around what they're doing to address climate change. GS established an environmental policy framework back in 2005 that described their plan to address climate change as the allocators of capital. The $150 billion capital target by 2025 is dwarfed by the amount of capital allocated to the Oil and Gas industry. If you look at the banks crawling all over ARAMCO and the Anadarko M&A deal, it's clear to see that banks don't care enough about the environment. With the U.S pulling out of the Paris Climate Accords and the EPA allowing Coal Power Plants to regulate themselves, the climate outlook seems hopeless. Banks have the power to bring countries to their knees, and the world desperately needs them to start leveraging that power. What do you think some innovative solutions would be for banks to start putting their money where their mouth is?
JebronLames, bummer your thread hasn't had a response yet. Maybe one of these threads could point you in the right direction:
If those topics were completely useless, don't blame me, blame my programmers...
I think this question is misguided. Banks are not moral arbiters, as you said they only facilitate the allocation of capital to where it makes the most financial sense. Until renewables become a more financially sound sector, they will be allocated less capital than certain constituents of the O&G industry which currently offer better returns. I don't see anything wrong with this, or why it would be the banks' responsibility to affect change in this regard, given it would most likely be to the detriment of their shareholders.
those scumbags aren't doing anything! it's outrageous!
Prob flying their jets less...not to combat climate change, more because revenue is down. Net net its a win for the environment.
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