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Banks at Greater Reputational, Legal Risk From Global Climate Pledges

Started by Epoch-Times-Bot, Oct 05, 2022, 09:45 AM

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Epoch-Times-Bot

Banks at Greater Reputational, Legal Risk From Global Climate Pledges

News Analysis
Canada's big banks have been incorporating climate considerations into the core of their operations, but are starting to get nervous about the legal and reputational risks stemming from commitments made to global climate-related coalitions they voluntarily joined. Much of the issue centres on financing high-emitting sectors, with global alliances taking a much harsher stance than the domestic regulator.
The Globe and Mail reported on Sept. 29 that Canada's big banks are concerned they could face legal action resulting from antitrust concerns if mandated by global coalitions to cut ties with some high-emitting sectors like oil and gas. The banks also have concerns about how these global coalitions are governed....

Source: Banks at Greater Reputational, Legal Risk From Global Climate Pledges

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