Net zero pressure building on companies via lender funding ! Major banks, insurers team up with Carney, vowing to mobilize trillions of dollars toward net-zero goals
( Today's Globe )
Looks like the most popular companies for future investing will be the greenest or at least have a measurable green plan . Genm as a miner of Cu and Palladium in a district with good environmental regulations ,using Hydro Power etc . It Will definitely be on the list to receive funding ,IMO.
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Excerpt:
We can’t get to net zero if we continue to dump hundreds of billions of dollars into fossil fuel companies, particularly ones that are in the midst of expanding their operations – building more coal mines, digging for more oil or building more infrastructure that have lifespans of 20, 30, 40 years,” Richard Brooks, climate finance director for Stand.earth, said before the GFANZ announcement.
Most asset managers and owners that have joined GFANZ are already members of a group called the Net Zero Asset Managers Initiative, which includes such firms as BlackRock Inc., Brookfield, Fidelity and Vanguard Group, with US$37-trillion under management. BlackRock CEO Larry Fink made headlines in January by saying he was accelerating the fund manager’s push to get companies within its portfolios to make progress dealing with climate risks – or face possible proxy contests or divestment.