Banks still aren’t accounting for the emissions they finance ...Middle East

Quartz - Economy

Banks are central to decarbonizing the economy. As a main source of financing for the world’s infrastructure, they’re uniquely empowered to pressure industries from energy to manufacturing to cut their emissions. And recently, big banks have started bragging about their climate credentials: Bank of America, Morgan Stanley, and others all committed last week to reach net zero emissions by 2050 in their operations and investment portfolios. On April 26, Citigroup showed what that looks like by disclosing it walked away from at least 11 major deals related to coal-fired power plants last year.But the financial industry has not yet reckoned with its full carbon footprint, according to a new surv

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