Global investors pour US$6.5 trillion into fossil fuels, undermining 2050 net-zero targets, Urgewald analysis finds
By
Nathalie Hewa Dewage
1d ago· 3 min readenNews
Summary
A new global analysis by German non-profit Urgewald reveals that Canadian banks, insurance companies, and pension funds are among 8,400 institutional investors worldwide funneling over US$6.5 trillion into the fossil fuel industry. Most of this financing is tied to coal, oil, and gas expansion projects that extend well beyond 2050 net-zero climate targets, highlighting a significant gap between institutional climate commitments and actual investment behavior.
Source
bskyGlobal investors pour US$6.5 trillion into fossil fuels, undermining 2050 net-zero targets, Urgewald analysis findsnationalobserver.comKey quotes
· 2 pulledCanadian banks, insurance companies and pension funds are among those investing more than US$6.5 trillion in the fossil fuel industry, with most financing tied to projects that extend well beyond 2050 net-zero targets, new research finds.
Investing in Climate Chaos, a new global analysis by German non-profit Urgewald examined 8,400 institutional investors from around the world, such as banks, insurance companies or asset managers
Institutional investors are channeling trillions into the fossil fuel industry through shares and bonds, with a majority of the financing tied to the expansion of coal, oil and gas production and extending beyond 2050 climate targets.
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