Financial institutions go green
Lenders shift towards cleaner investments to align with Paris Agreement targets
Financial institutions are pushing ahead with a number of reforms of lending criteria to align with Paris Agreement objectives, leading to a tightening of lending requirements and a progressive shift away from financing fossil fuel projects, a climate corporate governance for financial institutions conference heard this week. French bank BNP Paribas is looking to phase out all financing to the outstanding loans to companies related to thermal coal by 2030 in the EU and 2040 for the rest of the world, Alexandra Basirov, the bank’s global head of sustainable finance for financial institutions, told the European Bank for Reconstruction and Development (EBRD) conference in London. The share of
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