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Green economy: Financial sector zigzags

Green financing improves but has a long way to go

BlackRock, the world’s largest investment firm, has indicated that those that don’t tackle climate change will lose money in 5 years. Some financial institutions have made multi-trillion commitments from now to 2030 to invest in the green economy while still focusing the majority of investments in fossil fuels. Canadian banks are among the global top fossil fuel investors.

Greenwashing Won’t Save Big Oil’s Failing Tar Sands Business Model

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Tar sands projects are especially vulnerable because the cost of extracting oil from the tar sands is worse than for any other resource.