'Financial cakeism': Study finds reluctance to give up fossil fuels undermining financial firms' climate ambitions

clock • 4 min read
Credit: iStock
Image:

Credit: iStock

New survey from South Pole finds nearly three-quarters of financial institutions have no plans to reduce fossil fuel exposure over the next decade, despite their growing desire to decarbonise portfolios

Global financial institutions appear to find themselves "at a critical crossroads" as mounting pressure to decarbonise their lending and investments rubs up against their continuing - and somewhat contradictory...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

Author spotlight

Amber Rolt

View profile
More from Amber Rolt

'Little better than a regular petrol car': Study warns plug-in hybrid fuel use far higher than claimed

Environmental consultancies join forces to launch new nature expertise network

More on Management

Study: C-suite values determine whether corporate climate goals 'live or die'
Management

Study: C-suite values determine whether corporate climate goals 'live or die'

Environmental action much more likely at firms where top executives take the lead in driving sustainability measures

BusinessGreen staff
BusinessGreen staff
clock 23 February 2026 • 2 min read
The resilience we don't talk about
Management

The resilience we don't talk about

Maintaining personal resilience should be a top priority for everyone working to tackling the climate and nature crises - but in a high-pressure world, that can be challenging, writes Forum for the Future's Sally Uren

Sally Uren, Forum for the Future
clock 23 February 2026 • 5 min read
UK Green Business Awards entry deadline: One week to go
Management

UK Green Business Awards entry deadline: One week to go

Deadline for entries for the UK's most prestigious green business awards falls on Friday 27th February

BusinessGreen staff
BusinessGreen staff
clock 20 February 2026 • 2 min read