One of the world’s biggest financiers of fossil fuels is taking its business to green energy. A global trend of withdrawing investments in fossil fuels is sweeping the globe as Royal Bank of Scotland (RBS) has reduced its global lending to oil and gas companies. The bank is also doubling its green energy loans in the U.K to £1 billion ($1.4 billion) a year. Financial institutions are shifting away from fossil fuel investments as the Bank of England, the World Bank and others warn that action to cut carbon emissions could leave coal, oil and gas assets stranded. Along with RBS, the world’s biggest sovereign wealth fund, held by Norway, dumped 52 coal companies including the U.K firm Drax.
Fossil fuels continue to fall as green deals grow following Royal Bank of Scotland divestment
More of Today's Solutions
Vision board ideas for adults: how to create one that inspires real change
BY THE OPTIMIST DAILY EDITORIAL TEAM A vision board might look like a crafty throwback to childhood afternoons spent collaging. But don’t write it ...
Read MoreIndia’s social experiment: how paying women directly reshapes welfare, autono...
BY THE OPTIMIST DAILY EDITORIAL TEAM Across India, millions of women now receive a modest but unwavering deposit each month into their bank accounts. ...
Read MoreNew Zealand’s groundbreaking shift to renewables promises massive emiss...
New Zealand launched its most ambitious emissions reduction initiative to date in an incredible undertaking. The government announced a historic switch from coal to ...
Read MoreGoing for the goal: the impact of team sports on boosting young girls’ ...
In a pioneering study, the Here for Every Goal report demonstrates that team sports, particularly elite women's soccer (referenced from here on in this ...
Read More
