Banks have pledged to go green. Yet they can't seem to ditch coal.
Coal, the highest carbon emitting and dirtiest energy source, is the single biggest contributor to human-created climate change. Global power generation from coal grew 9% last year to an all-time high. Over the last three years commercial banks have funneled $1.5 trillion into the industry, according to a recent report by green campaign groups Urgewald and Reclaim Finance along with more than two dozen other NGOs.
If you fill up your car with a lower emitting form of gas, but drive twice as far, the intensity of your emissions will be lower but your net emissions will remain the same.
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