{"id":34807,"date":"2024-11-07T00:01:51","date_gmt":"2024-11-06T23:01:51","guid":{"rendered":"https:\/\/reclaimfinance.org\/site\/?p=34807"},"modified":"2024-11-06T16:56:00","modified_gmt":"2024-11-06T15:56:00","slug":"european-banks-and-transition-time-for-a-reality-check","status":"publish","type":"post","link":"https:\/\/reclaimfinance.org\/site\/en\/2024\/11\/07\/european-banks-and-transition-time-for-a-reality-check\/","title":{"rendered":"European banks and transition: time for a reality check"},"content":{"rendered":"

Three years after the International Energy Agency drew a red line outlawing fossil fuel expansion, and as new European legislation is about to come into force, Reclaim Finance wanted to check whether European banks were ready to shift away from financing the expansion of oil and gas.<\/strong><\/p>\n

This new report focuses on the 20 major European banks and their financing to oil and gas expansion to denounce these financial institutions\u2019 lack of climate action. While banks will have to publish transition plans in 2025, it exposes those holding back the possibility of this transition. Last, a focus on banks\u2019 recent support to the largest integrated oil and gas producers of the continent tackles the argument that they are supporting these clients in their transition.<\/strong><\/p>\n<\/div>

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Key findings:<\/h2><\/span>
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