❌ Bank financing ratio is still 7x lower than the International Energy Agency’s 6:1 ratio needed by 2030, to achieve net-zero goals.
❌ False solutions are still included in Bloomberg’s low-carbon sources (nuclear, biofuels and CO2 capture). This means the fossils-to-renewables ratio is even worse.
❌ False solutions are still included in Bloomberg’s low-carbon sources (nuclear, biofuels and CO2 capture). This means the fossils-to-renewables ratio is even worse.
Comments
✅ At least a 6:1 ratio of renewables to fossil finance by 2030
✅ No finance for false solutions (large hydropower, fossil-based hydrogen, solid biomass, biofuels, CCUS and nuclear power)
✅ A just phase-out of existing fossil fuel finance in line with a 1.5ºC climate scenario
https://iea.blob.core.windows.net/assets/8ad619b9-17aa-473d-8a2f-4b90846f5c19/NetZeroRoadmap_AGlobalPathwaytoKeepthe1.5CGoalinReach-2023Update.pdf
https://www.banktrack.org/campaign/banks_and_a_just_energy_transition