UK banks and investors are financing massive carbon emissions
The UK financial sector is funding almost double the country’s annual carbon emissions, according to a new report published by Greenpeace and the World Wildlife Fund (WWF).
The research, carried out by South Pole, found that banks and asset managers in the UK financed 805m tonnes of carbon dioxide in 2019.
The UK’s total carbon dioxide emissions for the year in 2019 were 455m tonnes, making the amount banks are responsible for 1.8 times the UK’s total.
This makes the City of London’s carbon dioxide emissions higher than Germany’s in 2019.
Source: The Canary