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Banks keep funding and profiting from fossil fuel

Banks keep funding and profiting from fossil fuel
pcij.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pcij.org Daily Mail and Mail on Sunday newspapers.

Banks keep funding and profiting from fossil fuel

Banks keep funding and profiting from fossil fuel
pcij.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pcij.org Daily Mail and Mail on Sunday newspapers.

Banks keep funding and profiting from fossil fuel

It s never been this expensive to finance a new coal power plant — Quartz

April 22, 2021 For decades, infrastructure for coal, oil, and gas was seen as a relatively safe investment delivering strong returns, and renewables barely attracted the private sector’s attention. While banks put up trillions of dollars financing new fossil-fuel assets, from mines to power plants, government funds furnished about 50% of the annual investment (pdf) in America’s solar sector as recently as 2004. Today, that equation is reversing. The cost to finance new fossil-fuel infrastructure, especially coal, is rising, while the cost for new renewables is falling fast, according to a new study by the Sustainable Finance Programme at Oxford University in the UK.

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