Credit Suisse To Halve Fossil Fuel Funding

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Credit Suisse To Halve Fossil Fuel Funding

Swiss banking major Credit Suisse plans to slash its exposure to the fossil fuel industry by half by 2030. The bank said, as quoted by Reuters, it had already reduced its exposure to the industry by 41 percent between 2020 and 2021, and currently had some $2.6 billion in loans outstanding with oil, gas, and coal producers. Global lenders have been in a race to offload their fossil fuel business as they come under increasingly intense pressure to turn their backs on oil and gas from activist investors, environmentalists, and governments. In response...

Source: Credit Suisse To Halve Fossil Fuel Funding

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