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Arkon Energy Raises $28M, Completes Hydrokraft Acquisition To Expand Bitcoin Mining

Arkon Energy Raises $28M, Completes Hydrokraft Acquisition To Expand Bitcoin Mining
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Climate-Friendly Banks Find It Hard to Cut Dirty Investments


July 29, 2021
While many are talking about new commitments to push forward sustainability and the fight against climate change, it is still hard to kick old environmentally dirty habits.
For example, Goldman Sachs Group Inc. and JPMorgan Chase & Co. have stated that they are targeting admirable environmental goals, they continually invest in less-than-green energy companies, the Wall Street Journal reports.
The banks have to weigh ongoing commitments to protect their investments in troubled energy companies against new pledges to address sustainability in environmental, social, and governance, or ESG, policies.
Specifically, Goldman Sachs is set to take control of a bankrupt oil driller, Nine Point Energy Holdings Inc., which has been flaring natural gas or burning excess natgas in North Dakota at rates that exceed state guidelines – natural gas is an excess byproduct from crude oil drilling operations and sometimes are produced in such large quantities that it ....

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