Many major international banks are championing their green credentials, however, $87bn was invested in fossil-fuel extraction businesses in 2000, according to a report by a group of non-governmental organisations, led by Rainforest Action Network and Sierra Club. France’s Crédit Agricole and Germany’s Deutsche Bank were among the few praised for reducing investment in coal-based businesses, although none fared well across the board, and banks in Asia tended to fare badly. A separate study by the Organisation for Economic Co-operation and Development found only about 50% of industrialised economies had decoupled economic growth from carbon emissions.
Many major international banks are championing their green credentials, however, $87bn was invested in fossil-fuel extraction businesses in 2016, according to a report by a group of non-governmental organisations, led by Rainforest Action Network and Sierra Club. France’s Crédit Agricole and Germany’s Deutsche Bank were among the few praised for reducing investment in coal-based businesses, although none fared well across the board, and banks in Asia tended to fare badly. A separate study by the Organisation for Economic Co-operation and Development found only about 50% of industrialised economies had decoupled economic growth from carbon emissions.