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 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.
It s never been this expensive to finance a new coal power plant yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
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.