For one, the authors indiscriminately counted sustainability-linked bonds — a type of green financing issued by banks to encourage sustainable business — as fossil-fuel-related if the company that received the bonds works in the fossil fuel industry. A Citigroup spokesperson said in a statement that the company is committed to transitioning to a low-carbon economy and that since 2020 it has put over $400 billion toward its goal to invest $1 trillion in sustainable finance by 2030. “We’re trying to send a message to Wall Street banks that they need to get off of fossil fuels and they need to make real plans to exit financing pipelines, natural gas facilities and oil rigs across the globe.”
Author: Nidhi Sharma
Published at: 2024-05-13 22:10:42
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