CNN Business, April 11, 2022, Banks say they’re getting tough on coal, but they keep lending trillions to polluters
The biggest lenders to coal, the study found, include Japan’s Mizuho Financial Group, Barclays, Citi, and JPMorgan Chase. All four banks are members of the UN Net Zero Banking Alliance and have committed to aligning their portfolios with net zero carbon emissions by 2050.
Institutional investors hold a combined $1.2 trillion in coal industry assets as of November 2021, numbers that appear to be on par with holdings in 2020.
At the top of the list was BlackRock, which held 9% of global coal stock holdings. About $110 billion of its equity is in coal producing companies, and $34 billion is invested in companies building new coal plants, the report found.
