Global Financial Giants Swear Off Funding an Especially Dirty Fuel
Alberta is losing all of its investors. These are same investors who could be supplying money for sustainable energy projects and putting people back to work. Kenney isn’t concerned about getting jobs. He’s concerned about oil & gas and reviving the ‘90’s. They aren’t coming back. This article can be likened to whacking our beloved premier with a stick on the noggin, while repeatedly saying “No! No! No! No! No!” This behavioral modifying technique shows favourable results with members of the canine species…. Kenney doesn’t appear to be as smart…
Some of the world’s largest financial institutions have stopped putting their money behind oil production in the Canadian province of Alberta, home to one of the world’s most extensive, and also dirtiest, oil reserves.
In December, the insurance giant The Hartford said it would stop insuring or investing in oil production in the province, just weeks after Sweden’s central bank said it would stop holding Alberta’s bonds. And on Wednesday BlackRock, the world’s largest asset manager, said that one of its fast-growing green-oriented funds would stop investing in companies that get revenue from the Alberta oil sands.
They are among the latest banks, pension funds and global investment houses to start pulling away from fossil-fuel investments amid growing pressure to show they are doing something to fight climate change.