INVESTORS PRESSURE EUROPEAN BANKS TO STOP FINANCING NEW FOSSIL FUEL PROJECTS
Europe may go dark from sheer stupidity
Investors Pressure European Banks To Stop Financing New Fossil Fuel Projects
A group of investors representing over $1.5 trillion in assets under management sent demand letters on Feb. 7 to five of Europe’s biggest banks, calling on them to stop financing fossil fuel firms by the end of 2023.
The 30 investors, ShareAction said, each wrote to at least one of the five European banks—Barclays, BNP Paribas, Credit Agricole, Deutsche Bank, and Societe Generale. Twenty of them wrote to all five.
The letter went on to say that so far, 11 out of the top 25 “biggest European banks now have some form of asset financing restriction for new oil and gas,” including BBVA, ING, Lloyds Banking Group, and UniCredit.
