"Banks Undermine Their 'Net Zero' Pledges Through Lobbying - Report"

"LONDON - Thirty of the world's largest financial institutions are undermining their commitment to cutting carbon emissions by lobbying against climate regulation and by funding new fossil fuel projects, according to a report published on Friday.

The report, from London-based energy and climate think-tank InfluenceMap, found that all 30 institutions are members of industry associations "that have consistently lobbied to weaken key sustainable finance policies" in the European Union, Britain and the United States.

These policies are designed to boost transparency around financing environmentally harmful activities including fossil fuels.

One well-known activist investor and climate campaigner said the behaviour amounted to "greenwashing"."

Tommy Reggiori Wilkes reports for Reuters March 24, 2022.