Numbers Don’t Lie, GFANZ Members Might

On 17 January, research and campaign NGO Reclaim Finance, supported by several other NGOs, published a report with the disturbing title Throwing Fuel on the Fire: GFANZ financing of fossil fuel expansion. Even more disturbing, however, are the numbers exposed in the paper. The authors present plenty of evidence that, after committing to net zero by joining the Glasgow Financial Alliance for Net Zero (GFANZ), financial institutions have continued pouring hundreds of billions of dollars into the companies developing fossil fuels.

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