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For the first time, more money was raised in the debt markets for climate-friendly projects than for fossil-fuel companies.
Roughly $580 billion was arranged in 2022 for renewable energy and other environmentally responsible ventures, while the oil, gas and coal industries turned to lenders and underwriters for closer to $530 billion, according to data compiled by Bloomberg.
But it’s not that green financing is finally winning out over fossil fuel lending. Rather, Big Oil looks to be getting more money from elsewhere.
Read more about where the funds are coming from at the link in our bio or visit: bloomberg.com/green
📷: Sean Gallup/Getty Images Europe
bloomberggreen
Jan 4
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