<
https://ieefa.org/resources/200-and-counting-global-financial-institutions-are-exiting-coal>
"Energy transition efforts are accelerating worldwide, and it is leading to
tectonic shifts in all sectors across the global economy. While in the real
economy, the energy sector is leading the transformation, the financial sector
is also fast re-evaluating and redefining its role in a world where capital
today is seen in the colours of green and brown.
200 and counting financial institutions have exited coal graph
There are two prominent trends redefining capital markets. First, there is the
shift away from high emissions fossil fuels due to accelerating climate action
and improved viability and accessibility of clean energy technologies. Second,
there is an increased understanding of climate risk as a source of systemic
risk to the global financial system. Both these trends are also supported by
the climate movement spearheaded by stakeholder activism which includes policy
analysts, climate campaigners and climate scientists globally. The response to
both trends has been a diversification away from fossil fuels such as coal. A
growing number of financial institutions (FIs) globally are fast establishing
policies to exit coal in a bid to decarbonise their operations and commit to
net zero targets.
Despite record profits for several of the largest coal mining companies
globally over the last two years, the momentum of coal exclusion policies
indicates that financial markets do not see their exposure to coal as a great
long-term investment. The outperformance of the MSCI World ex Fossil Fuels
Index over the MSCI World Index from November 2010 (index start date) to March
2023 underlines that investors recognise the long-term destructive impact of
fossil fuel companies on wealth."
Via
Future Crunch:
<
https://futurecrunch.com/good-news-poverty-indonesia-press-freedom-fiji-shade-america/>
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
