It’s hard to tell how serious Wall Street is about climate

BLOOMBERG GREEN | Measuring a company’s carbon footprint and determining whether it’s reducing it has always been difficult. Agreeing on what emissions a bank or investment firm with thousands of different assets and clients is responsible for is a whole other challenge. If a lender extends a revolving credit facility to a diversified miner that has a small share of thermal coal in its portfolio, how much of the company’s emissions is the bank actually funding? At what point should a bank that’s truly committed to fighting global warming be prepared to lose its most polluting clients altogether? 

These are vital questions if you believe that banks’ decisions can drive shifts in the real economy.

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