A group of investors with combined assets of more than 1.5 trillion US dollars (ยฃ1.23 trillion) have written to five of Europe's biggest banks, including Barclays, urging them to stop lending to fossil fuel firms.
Bracewellโs managing partner in London Jason Fox said this was not new โbut the noose is tightening quickly and ESG is the headwind. Itโs not just the E thatโs biting but also the G, for governance, with banks increasingly retreating from emerging markets because of additional risks, particularly concerns around corruption.โ
Major European banks must do more to tackle the climate crisis, cut emissions and safeguard the world's vital natural systems, campaigners have warned.
Over the past five years, the Asia Pacific region made up over three-quarters of global power demand growth, and led the world in wind and solar capacity installations.
If we are to stick within the Paris targets, the OECD estimates that $70 trillion of investment in decarbonisation will be needed over the coming decade. This begs the trillion dollar question; whereโs the cash going to come from?
Petroleum Exploration and Production Africa (PEPA) has defended its work in Congo Brazzaville, following a condemnatory report from Global Witness and others.
EON has hired BNP Paribas to help sell an energy supplier in the Czech Republic itโs gaining as part of its pending takeover of rival Innogy, people with knowledge of the matter said.
BNP Paribas SA and its partners in a Scottish energy loan are staring at a loss of 122 million pounds ($172 million) after entrepreneur Ian Suttieโs venture went bankrupt, illustrating the wreckage banks are likely to face from the oil bust.
Oil prices fell more than 2% today after Goldman Sachs cut its crude forecasts, citing global oversupply and concerns over the Chinese economy, and after Saudi Arabia dismissed the idea of an oil producer summit.