Major Banks Shifting Away from Coal
The shift away from fossil fuels and towards renewable energy continues. Last week Citigroup, the parent company of Citibank, committed to cut financing for coal mining. In the same week, one of Australia’s biggest banks – ANZ – pledged not to finance traditional coal mining projects and to provide at least $10bn in funding for renewable energy, reforestation and energy efficiency.
In May, Bank of America started the trend with their announcement to drop funding of coal mining, and Crédit Agricole closely followed with the same.
This shift is thanks to the work of everyone building a clean energy industry and pushing money away from destructive, polluting fuels.
You too can make the shift from fossil fuels in your investments to clean, renewable energy. Here is a list of investment products that are free from fossil fuels.