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Undermining Our Future

Monday, November 2, 2015

This publication outlines the trends in financing of 75 selected financial institutions towards selected companies engaged in fossil fuels (coal mining and oil& gas), renewable energy input equipment manufacturers (solar panels, concentrated solar power plants, wind turbine manufacturers, and geothermal power turbine and engineering companies), renewable energy projects and utility companies, over the period 2004-2014.

Given the urgent need for an energy transition, this study thus assesses whether financing for this transition is on the right track. The report found that the world's 25 largest private sector banks channelled at least USD 931 billion into fossil fuel companies in the period 2009-2014, while over the same period the banks’ financing of renewable energy totalled USD 98 billion.

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