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The world's biggest banks invested $742 billion in coal, oil, and gas companies last year despite extensive public climate commitments, per a Rainforest Action Network (RAN) report that casts doubt on the substance of their climate pledges.
The report exposes banks' failure to cut fossil fuel financing. For example, the banking industry has financed $4.6 trillion for fossil fuels since the 2016 Paris Agreement. In addition, the disparity between banks' climate pledges and the reality of their financing is obvious, with some setting vague climate targets or ignoring targets altogether.
Reports like RAN's, public opinion, and growing concerns over environmental damage will keep this issue in play and keep banks accountable for backing up PR campaigns with action.
The world's biggest banks invested $742 billion in coal, oil, and gas companies last year despite extensive public climate commitments, per a report that casts doubt on the substance of their climate pledges.
India-based credit card startup Slice will enable the Unified Payments Interface (UPI), India's mobile bank-to-bank instant payments system, on its forthcoming app so users can make UPI transactions.
Small and medium-sized businesses (SMBs) are finally taking action to automate their accounts payable (AP) and accounts receivable (AR) processes. To win market share in this previously untapped segment, banks and software providers must meet SMBs where they are.
