Traditional regional banks tend to be skeptical about clean energy projects, which are framed as risky investments that may not yield solid returns. As a result, many banks have little experience with loans for clean energy or efficiency measures. Larger banks with more resources also resist homeowner and small business … [continued]
The financing of fossil fuel companies continues at the highest levels despite promises made by the world’s largest banks to limit lending.
A national level green nonprofit can lower the cost of capital, negotiate with private sector partners, and directly fund local institutions to coordinate projects in the communities that need them the most.
Big finance has a huge role in the climate crisis and can guide business leaders toward appropriate action to address the scale of the problem.
CleanTechnica switched to Fifth Third Bank (5/3 Bank) in 2019. Two big factors for us were 1) it had the most ambitious clean energy achievements and plans of any bank, and 2) it won’t …
Wall Street banks slammed a proposed rule that would force lenders to finance fossil fuel projects, Bloomberg reports, questioning both its legal underpinnings and fast-tracked process.
Big banks are talking the talk about clean, renewable energy and sustainability, but many of them still have members who have major ties to some of the world’s largest fossil fuel corporations.
A new report from a collection of leading NGOs takes a deep dive into how banks around the world are fueling the climate crisis. The report, called Banking On Climate Change, finds that 35 banks have poured a staggering $2.7 trillion into dirty energy projects from 2016 to 2019…
The Foundation Office at Fifth Third Bank, a bank that is 100% powered by renewable solar energy and generating more clean power than the bank uses in a year (which is why we started using it in 2019), recently made an announcement of almost $6.2 million in grants from 2019. These grants come through 8 major foundations that the banks serve as a trustee or agent.
According to a report in The Guardian, the top banker for fossil fuel companies is JPMorgan Chase. In fact, in the past few years it has provided $22.8 billion more in financing than #2 Citi for oil, gas, and coal companies — $75.6 billion versus $53.8 billion. As one Tesla fan noted, JP Morgan’s Tesla analyst, Ryan Brinkman, has a very low price target in place for Tesla [TSLA] and an “underweight” rating.
