US Banks Rank Poorly on Indicators of Concern to Sustainable Investors

Date: 
Nov 21st 2013

SocialFunds.com -- A recent report by a consortium of European nongovernmental organizations (NGOs) including BankTrack exposes the claims of sustainability by many major global banks to be little more than greenwashing. Almost all the banks analyzed “have expressed their concern about global warming and have made far-reaching statements regarding their commitment to a 'low-carbon economy',” the report found. Yet since 2005, “commercial banks have channeled almost 165 billion euros ($223 billion) to the world’s top coal mining companies.”  See more.