AS) and Amalgamated Bank (AMAL.O) announced they will adopt measures to improve the transparency of their investments here to measure their responses to climate change. Less than half the world ’s 50 largest banks have made commitments to respond to climate change and cut financing for fossil fuels , according to the World Resources Institute ( WRI ) . Its Green Target Tool showed that out of the 50 banks had invested nearly twice as much on fossil fuel finance as on sustainable projects between 2016 and 2018 . Just seven banks had sustainable finance targets higher than their fossil fuel financing . WRI 's director of sustainable investing , Giulia Christianson , said if banks were serious about sustainability they would have changed how sustainable commitments compared with fossil fuel finance .
Less than half the world ’s 50 largest banks have made commitments to respond to climate change and cut financing for fossil fuels , according to the World Resources Institute ( WRI ) . Its Green Target Tool showed that out of the 50 banks had invested nearly twice as much on fossil fuel finance as on sustainable projects between 2016 and 2018 . Just seven banks had sustainable finance targets higher than their fossil fuel financing . WRI 's director of sustainable investing , Giulia Christianson , said if banks were serious about sustainability they would have changed how sustainable commitments compared with fossil fuel finance .