What went right in the last week: The good news you need to know

Jun 7, 2024 | News

Clean energy is a topic that deserves attention.

According to a report released this week, British financial firms – including those criticized for funding fossil fuel projects – made record investments in clean power in 2023.

The report tracked the investments made by the Glasgow Financial Alliance for Net Zero, a voluntary coalition consisting of firms who have pledged to decarbonise their economy.

The group’s 126 UK member banks, including NatWest and HSBC – both of which have been criticised for funding fossil-fuel projects – tripled their investment in clean energy by 2023.

The UK led in the private clean energy investments among the five countries that were covered by the report. It was followed by France, Germany and Japan. GFANZ members invested 59% more in clean energy last year than they did in 2022.

Dharshan WIgnarajah said that the findings were “welcome”. He added that “significant gaps remain”, especially when many financial institutions in UK and elsewhere are not part of the leading financial alliances to achieve net zero .”

Image: Alev Takil

Share to:

Recommended Articles