Banking

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Renewable Roundup: Big banks lining up to finance big batteries

We’ve reached a significant tipping point in how the battery storage market is financed, shifting from expensive private equity investments to ordinary bank finance. Which will be another factor leading to a terawatt of storage by 2040. By Mokurai Banks Finally Start to Spend Big on Giant Batteries Once reluctant to finance big projects, lenders […]

May 14th

JP Morgan Chase backs off from fossil fuel investments

Less than a month ago, I wrote about our new Stop the Money Pipeline campaign, which demands that big banks, asset managers, and insurers stop supporting the fossil fuel industry. We had just notched our first victory: The world’s largest asset-management company, BlackRock, announced one of the largest ever divestments from coal and a commitment to put […]

February 27th

IMF: Climate crisis is driving the world toward economic meltdown

Kristalina Georgieva, the managing director of International Monetary Fund, warned Friday at a speech at the Peterson Institute for International Economics that rising inequality and the climate crisis have the whole planet headed toward yet another financial disaster. By Meteor Blades DailyKos Andrea Germanos at Common Dream writes—IMF Head Gives ‘Stark Message’ of Looming Inequality-Fueled Global Financial Disaster: […]

January 20th

Europeans propose $TRILLION fund for their own version of the Green New Deal. They don’t think it’s “unrealistic”

A group of experts has published a draft treaty for a sweeping European climate finance pact, to inject more than a trillion euros into the fight against global warming. Addressing a packed launch event in Paris last week, French economist Pierre Larrouturou and climate scientist Jean Jouzel urged European member states to mobilise funds in a similar way to the response to […]

February 25th

2018 Year In Review: Divestment from fossil fuels tops $8 TRILLION

From school children to individuals, companies, and corporations, the global fossil fuel divestment movement has challenged the right of the fossil fuel industry to damage the environment. By divesting from fossil fuels, we are requiring polluters to take responsibility for their products and hitting them where it hurts the most — their stock values and […]

December 28th

Movement to divest from fossil fuels hits $8 TRILLION

Writing in The Guardian this week, Bill McKibben, the tireless climate activist and founder of 350.org, reports this bit of good news — the global movement to convince institutional investors to divest fossil fuel stocks from their portfolios is making extraordinary progress. The latest converts to the divestment movement are major French and Australian pension funds and […]

December 19th

Commonwealth Bank of Australia commits to 100% Renewable Energy

Australia’s largest bank, the Commonwealth Bank of Australia, announced this week that it has not only signed Power Purchase Agreements worth 65% of its national electricity needs, to be completed by January 2019, but it has also committed to source 100% of its global electricity needs from renewable energy by 2030, joining the RE100 initiative […]

November 14th