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Banks under pressure to reveal data comparing green and fossil fuel spending

Banco Santander ranked first in BNEF’s assessment of 10 large banks, with its financing of low-carbon energy supply almost double its financing of fossil fuels. (Photo: Andrey Rudakov/Bloomberg)
Banco Santander ranked first in BNEF’s assessment of 10 large banks, with its financing of low-carbon energy supply almost double its financing of fossil fuels. (Photo: Andrey Rudakov/Bloomberg)

Criticism sparks agreement by JPMorgan and Citigroup to develop a ratio to show whether a bank’s fossil fuel financing is outstripping the amount it is investing in clean energy

The world’s largest banks are facing calls from investors and activists to publish ratios that compare their spending on renewable energy with the amount they continue to invest in fossil fuels.

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