Banks warned over Saudi Aramco by environmental groups | Business | The Guardian:
Environmental groups have warned the banks linked to Saudi Aramco’s planned market float that they risk financing the destruction of the planet by supporting the public listing of the world’s biggest oil producer.
The eight green groups, including Oil Change International and Friends of the Earth, warned that the world’s largest IPO would be “the biggest single infusion of capital into the fossil fuel industry” since global governments signed the Paris climate accord in 2015.
In a letter to the banks’ chief executives, including the bosses of HSBC and Goldman Sachs, the green groups warned that the listing would undermine efforts to cut carbon emissions in line with the Paris Agreement.
Environmental groups have warned the banks linked to Saudi Aramco’s planned market float that they risk financing the destruction of the planet by supporting the public listing of the world’s biggest oil producer.
The eight green groups, including Oil Change International and Friends of the Earth, warned that the world’s largest IPO would be “the biggest single infusion of capital into the fossil fuel industry” since global governments signed the Paris climate accord in 2015.
In a letter to the banks’ chief executives, including the bosses of HSBC and Goldman Sachs, the green groups warned that the listing would undermine efforts to cut carbon emissions in line with the Paris Agreement.
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