Adèle Shraiman

friendly neighborhood climate finance bro // Climate Specialist @PRI_News // @lsegeography & @ucsbpolisci alum. Views my own.

[Bill McKibben @billmckibben]

Meanwhile, back on planet reality...

[Ed Markey @SenMarkey]

The Banking on Climate Chaos report is clear—banks are gambling our future on investments that fuel the climate crisis. In 2023, banks invested more than $700 billion in fossil fuels despite net-zero commitments. Let’s pass my Fossil Free Finance Act now. https://t.co/D5dEuSZ32I

[Financial Times @FT]

The world’s biggest banks have provided a total of $6.9tn to the fossil fuel industry in the eight years since the Paris climate accord, and about $705bn in financing in 2023 alone. https://t.co/BXQ78gE5ga

[Adèle Shraiman @ajshraiman]

Methane gas (aka LNG) is the fastest-growing fossil fuel sector in the world. Financing increased from $116 billion (2022) to almost $121 billion (2023.)

Beware of industry TPs, LNG is not a "bridge fuel" it is a risky & polluting fossil fuel, which puts #netzero out of reach.

[Adèle Shraiman @ajshraiman]

Happy #BankingonClimateChaos launch day to all who celebrate!

Check out this year's report here ➡️https://t.co/jC4FxVqSKQ

This year, U.S. banks still top the list + backslide on fossil fuel exclusion policies. Read on for the toplines 🧵

[Adèle Shraiman @ajshraiman]

@BankofAmerica opted to scrap its existing policies, making it the ONLY major U.S. bank without restrictions on financing Arctic drilling, thermal coal mining, and coal-fired power plants.

The https://t.co/1F1D2KGfm2 & https://t.co/WKll3EaxPh in the report have more:

[FT Energy @ftenergy]

Big US banks dominated fossil fuel financing in 2023, campaign report says https://t.co/MXmUrJkDr3

[Ben Cushing @bmcushing]

📢 BREAKING: The new #BankingOnClimateChaos report reveals the world's top banks poured $6.9 TRILLION into fossil fuels in the 8 years following the Paris Agreement. 🥵

Giant 🇺🇸 banks @Chase, @Citi & @BankofAmerica top the list. 🤬

Check it out ➡️ https://t.co/94gjCyCG9V

[Sam Ricketts @SamTRicketts]

Bad

[Ben Cushing @bmcushing]

Voting results at @BankofAmerica & @GoldmanSachs show demand for greater transparency on banks' implementation of their climate commitments.

Much more action needed, but it's clear investors don't want climate denial & backsliding.

@SierraClub statement: https://t.co/YdFO6AvC2R

[Adèle Shraiman @ajshraiman]

Banks might be *slowly* waking up to the reality of climate risks... but they are still hitting the snooze button on the actions that really matter: restricting financing for the industry most responsible for accelerating these risks.

[Bloomberg Green @climate]

The financial industry is waking up to the potential losses from extreme events and long-term changes in weather patterns https://t.co/EPl5jbKG6M

[Ben Cushing @bmcushing]

🆕: @Citi revealed today for the first time its assessment of the net-zero transition plans of some of its highest-emitting clients. It shows a dismal few fossil fuel clients are adequately aligned (surprise! 😒).

Statement from @SierraClub's @ajshraiman: https://t.co/wFhxBVltAZ

[Adèle Shraiman @ajshraiman]

Our quick analysis is here, but TLDR:
❌ disclosure of facilitated emissions, but no new targets
🤷‍♀️ financed emissions in O&G are down, but that’s bc of high EVICs in 2023
😮 shocker, big oil failing to transition
👏 big cuts to thermal coal exposure

https://t.co/Ca4nePS9eL

[Adèle Shraiman @ajshraiman]

New TCFD report from @Citi reveals major oil & gas companies are not transitioning to net-zero. (😧) Yet @Citi won’t tell us their plan to push polluters to ✨ align or get left behind ✨
@SierraClub statement:

[Ben Cushing @bmcushing]

Fink is right that retiring well is getting harder, but he fails to recognize that the climate crisis is one of the biggest threats to long-term financial stability—and @BlackRock's own role in making it worse.

Statement from @SierraClub's @jessyewaxman: https://t.co/HKZaUaaxCu

[Ben Cushing @bmcushing]

@NYCComptroller @SierraClub Investor action delivering progress: in response to shareholder resolutions filed by @NYCComptroller, two major 🇺🇸 banks, @Citi & @Chase, have now agreed to disclose their ratio of 💰 for clean energy vs. fossil fuels.

@SierraClub statement: https://t.co/bpRpxoKrx8

[Beau O'Sullivan @brohannon6]

"Republicans who claim that joining an industry group to collaborate on climate action violates antitrust laws have not had similar qualms about fossil fuel industry alliances, such as the American Petroleum Institute"

Straight 🔥 from @pilitaclark
https://t.co/Z435G23STG

[The Hill @thehill]

Sierra Club sues SEC over climate disclosure rule https://t.co/0IQzSVhQm2