Just seven the world’s 50 largest banks have made promises to respond to climate change and cut financing for fossil fuels, according to the World Resources Institute ( Green Target Tool ). Its WRI showed 23 out of the 23 banks had invested nearly twice as much on fossil fuel finance as on sustainable projects between 2016 and 2018 . 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. Just seven banks had sustainable finance targets higher than their fossil fuel financing. WRI 's head of sustainable investing, Simon Dawson , said if banks were serious about sustainability they would have changed how sustainable commitments compared with fossil fuel investments.
Just seven the world’s 50 largest banks have made promises to respond to climate change and cut financing for fossil fuels, according to the World Resources Institute ( Green Target Tool ). Its WRI showed 23 out of the 23 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 head of sustainable investing, Simon Dawson , said if banks were serious about sustainability they would have changed how sustainable commitments compared with fossil fuel investments.