Green Finance
US and Japan Help Finance Foreign Coal Projects

US and Japan Help Finance Foreign Coal Projects

by Ashira Morris, ODP Staff Writer China is often criticized for funding fossil fuel power infrastructure beyond its borders, and rightly so: it’s the top financier of overseas power plants, especially coal-fired ones. But they’re not the only ones continuing to finance coal and gas projects overseas. The US and Japan are a close second […]

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Yellen To Assess Risk Posed By Climate Change to US Financial System

Yellen To Assess Risk Posed By Climate Change to US Financial System

  This past May, President Biden signed an executive order on climate-related financial risk, a cross-governmental plan that directs federal agencies to identify and mitigate financial risks presented by climate change to Americans, businesses, and the government itself. Progress on this order was made over the weekend when Treasury Secretary Janet Yellen announced that the Financial Stability […]

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Major Investors Sign Climate Demand Letter of G7 Leaders on Eve of Summit

Major Investors Sign Climate Demand Letter of G7 Leaders on Eve of Summit

Large institutions investors representing more than $41 trillion in assets sent a strongly worded letter pressing the G7 governments to “set more ambitious emission reduction targets, detail “clear” road maps to decarbonize pollution-heavy industries and implement mandatory climate risk disclosure requirements,” CNN reported.

Why This Matters: Money talks.  Investors are increasingly willing to walk away from deals like oil and gas drilling projects in the Arctic or investments in fossil fuel companies that refuse to change their business models.

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State Treasurers Threaten to Pull Assets Out of Banks that Divest from Fossil Fuels

State Treasurers Threaten to Pull Assets Out of Banks that Divest from Fossil Fuels

American financiers are moving to divest from fossil fuels to help the U.S. reach net-zero carbon emissions, but some state Republicans are fighting back. Fifteen Republican state treasurers are now threatening to pull hundreds of billions of dollars worth of assets from large financial institutions if they move forward decarbonizing their portfolios per a letter they wrote to Climate Envoy John Kerry. 

Why This Matters: Banks and financiers have invested billions in destructive environmental practices. Deforestation funded by the world’s largest banks increased in 2020 despite COVID-19.

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Biden Signs EO to Evaluate and Mitigate Climate-Related Financial Risk

Biden Signs EO to Evaluate and Mitigate Climate-Related Financial Risk

Yesterday, President Biden signed an executive order on climate-related financial risk, a cross-governmental plan that directs federal agencies to identify and mitigate financial risks presented by climate change to Americans, businesses, and the government itself. The administration said that Americans are already facing risks due to worsening extreme weather events and other climate threats and they deserve […]

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75% of Global Companies Failing to Meet Paris Agreement Goals

75% of Global Companies Failing to Meet Paris Agreement Goals

by Natasha Lasky, ODP Staff Writer Though many companies have publicly announced their commitments to achieving net-zero emissions, new research paints a more sobering picture — less than a quarter of the world’s large public companies are on track to meet the goals of the Paris agreement by 2050.  In fact, emissions have continued to […]

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