How mega-polluters take advantage of billions in green loans
- Banks issued over $286 billion in sustainability-linked loans to companies in environmentally harmful industries from 2018 to 2023, according to an investigation by The Examination, Toronto Star, and Mississippi Today.
- Drax Group, which reported over $10 billion in revenue in 2023, received multiple SLLs while facing environmental penalties for toxic emissions, highlighting concerns over greenwashing.
- Enbridge expanded a tar sands oil pipeline after receiving an SLL, increasing carbon emissions equivalent to 50 new coal-fired power plants, as noted in a state environmental review.
- The U.K.'s Financial Conduct Authority raised market integrity concerns about SLLs, citing weak incentives and potential conflicts of interest in sustainability targets.
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Total News Sources0
Leaning Left8Leaning Right0Center4Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
L 67%
C 33%
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