Can switching banks cut your carbon footprint? ...Middle East

Most major banks in the US and Europe have set long-term goals to eliminate greenhouse gas emissions from their lending portfolios. Yet most remain loath to sever ties with fossil fuel companies. That’s because they constitute a big share of banks’ business and because many bank executives believe that they have a financial and moral stake in helping high-emitting companies to transition to cleaner ways of doing business. The fossil fuel industry account for 10% of banking business in G20 countries.Since the Paris Agreement was adopted in 2015, the world’s 60 top fossil-fuel bankers have lent $4.6 trillion to oil and gas companies, according to a March 30 report from the Rainforest Action Ne

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