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Pledges to get to net-zero funded emissions by 2050 appear to be falling by the wayside as oil companies expand their fossil fuel extraction operations.
May 26The Sierra Club -
Bankers are hopeful that the rebound in oil prices and a spike in natural gas use are precursors to more borrowing. But banks are maintaining above-average levels of reserves in case the delta variant stifles economic momentum.
August 20 -
The agreement will allow the state-backed investment fund to meet surging financing demand for renewable energy projects. It is the largest-ever private fundraising deal by a green bank in the U.S.
August 2 -
As banks pull back from energy lending, some of the world’s biggest hedge funds are rushing in to fill the gap in oil country.
June 25 -
Oil and gas companies — flush with cash from rising oil prices — are catching up on debt payments and will seek new credit later in the year as the economy recovers, the Oklahoma company says.
April 21 -
House and Senate GOP members have stepped up criticism of a plan to include banks in a global push to cut emissions, saying it could cut off financial services access for energy and fossil fuel companies.
April 21 -
For now, banks say they have no plans to curtail lending to oil and gas firms, but recent moves by the new administration — including a halt in drilling on federal land and an effort to stop the Keystone XL Pipeline — could cause them to re-evaluate their long-term commitment to the fossil fuel industry.
January 31 -
Citigroup found that the rapid enactment of a carbon tax would likely lead to a significant increase in losses on loans the bank has made to certain oil and gas companies.
December 18 -
While banks are reporting steady declines in deferrals, hard-hit borrowers such as airlines, commercial real estate developers and hotel operators will almost certainly struggle to regain their footing.
December 17 -
The emergence of vaccines has boosted travel forecasts — and crude prices. The expected bump at the pump could help oil and gas companies get back on track with loan payments.
December 10