Big Tech comes off badly in a new study that examines the effect of their banking policies on their total emissions.
, has announced a new offshore drilling project in Guyana. Canada has approved 60 new wells to be drilled in the Flemish Pass near Newfoundland. The lead company on that project, Equinor, banks with Chase and Bank of America.
On the other hand, among Big Tech companies, Meta is No. 8, Tesla is No. 6, Amazon is No. 5, Alphabet is No. 4, Microsoft, No. 3, and Apple, No. 2. All these companies have net-zero targets. Thesays, “If they decided to pressure the banks, it would be a battle of giants. And the banks would have to consider not only who’s on top now but who’s likely to stay there. It’s pretty hard at present to make a case for Exxon’s long term future, though Amazon seems likely to last.
According to Rockefeller heir and BankFWD co-founder Peter Case, “The financial system can be one of two things — a driver of sustainable growth or a driver of climate chaos.” Theputs a fine point on things. “If Big Tech pushes Big Money to cut off Big Oil, we could see the shifts that have eluded us in the climate fight thus far, and that scientists insist we need to make. It could be a true turning point in the crisis.” Carbon capture? Geo-engineering? Pish tosh.
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