New investment bank to raise private capital to fund firms focused on future clean technologies and 'transforming the world’
Fifteenth annual Banking on Climate Chaos study finds world's biggest banks gave more than $705bn to fossil fuel firms in 2023 alone, despite many being committed to reaching net zero emissions
Investment bank says it will set interim emissions reduction targets for high-carbon portfolios by end of 2022
But investment bank highlights lack of consistent CO2 methodologies for finance as 'critical challenge' for establishing near-term emissions reduction targets for its portfolio