The Green Debt Boom Has Been a Boon for Big Banks ...Middle East

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The Green Debt Boom Has Been a Boon for Big Banks
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The world’s largest banks made $3 billion in profits from bond underwriting and loan provisions in the “environmentally friendly” category last year. That amount compared with the $2.7 billion that banks made from bonds and loans provided to the oil industry. Some would hail this as an achievement for transition-focused industries. But is it? To begin with, as Bloomberg points out in the article containing the loan profit data, one reason for the increase in transition financing was stricter EU regulation. With that regulation,…

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