"Banks are exposed to climate-related risks through their lending and financial service activities, including project finance, equity and debt underwriting. These risks are real and wide-ranging. A recent study estimates that the value at risk for investors from climate change, under a business-as-usual scenario, may be equivalent to a permanent reduction of up to 20% in portfolio value in just over a decade."
[COMMENTARY]Great analysis of the state of global banking with respect to their financial risks and opportunities concerning fossil fuels.
Banking on a Low-Carbon Future: Are the World′s Largest Banks Stepping Up to the Risks & Opportunities of Climate Change? February 2018, Boston Common Asset Management, USA.