ESG & Investing
Green Lending Tops Fossil Fuel as Big Oil Gets Cash Elsewhere
For the first time, more money was raised in the debt markets for climate-friendly projects than for fossil-fuel companies. But there’s a catch.
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For the first time, more money was raised in the debt markets for climate-friendly projects than for fossil-fuel companies.
Roughly $580 billion was arranged in 2022 for renewable energy and other environmentally responsible ventures, while the oil, gas and coal industries turned to lenders and underwriters for closer to $530 billion, according to data compiled by Bloomberg.