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From Barclays to Citigroup, world's top bankers likely to return to COP28 Climate Summit in Dubai this year
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(Exciting news! Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) BloombergNEF estimates that banks need to channel four times as much capital into renewable energy as they do into fossil fuels by the end of the decade for the world to have a chance of achieving net-zero emissions by midcentury. The last time big bank CEOs came out in force to a COP was in 2021 when the unveiling of the Glasgow Financial Alliance for Net Zero, a collection of many of the world’s biggest lenders and asset managers committed to achieving net zero financed emissions by 2050, was one of the headline achievements.
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