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
Nations agree to fund nature in a breakthrough for biodiversity
BY THE OPTIMIST DAILY EDITORIAL TEAM In a rare display of unity amid global tensions, nations reached a landmark agreement to fund nature conservation. ...
Read MoreThriving in uncertainty: science-backed ways to build resilience
BY THE OPTIMIST DAILY EDITORIAL TEAM In a world increasingly defined by unpredictability, many of us would rather accept a negative outcome than face ...
Read MoreHow to have a conversation with someone you disagree with
Recent events in the United States underscore a deep trend towards polarization that is spreading throughout the country. As current events bring up strong ...
Read MoreYour future rooftop could be made out of easy-to-install solar shingles
The roofs of the future may be made entirely out of solar panels. At least that’s the goal of GAF Energy, which has recently ...
Read More
