"The report from the UN's environmental wing, #UNEP, also revealed that despite decades of calls for ending finance flows towards sectors that harm some of humanity's most valuable assets, those investments currently account for a whopping 7 percent of global GDP."

#MoneyPipeline
https://www.miragenews.com/un-7-trillion-annually-fuels-climate-change-1140575/

"Banks that had enthusiastically committed to align their entire operations with #NetZero goals are having second thoughts as the real-world ramifications of acting on those pledges become painfully apparent.

For instance, doing business in the energy sectors of coal-dependent countries like South Africa, Poland and Indonesia would be off limits."

“Ditching clients off track from 1.5C means losing major lines of revenue.”

https://www.bloomberg.com/news/features/2024-03-27/ubs-banker-s-comments-highlight-challenges-facing-green-banking

UBS Banker's Comments Highlight Challenges Facing Green Banking

The world’s biggest banks are quietly hanging on to carbon-intensive clients because of what they see as unrealistic demands from regulators and civil society — and the threat to their fees.

Bloomberg