COP 28 Side Event | Financing the Future: How should big banks respond to the climate crisis?
Since the Paris Agreement, USD 5,500 billion has been channelled into fossil fuel companies from the 60 largest banks in the world. One of these banks, Danske Bank, has now drawn a line in the sand: they will no longer give loans to companies expanding their fossil fuel production.
Fossil fuels are undeniably the biggest driver of climate change. Devastating weather extremes remind us of the dire reality of the climate crisis affecting millions worldwide. These changes also affect the economic system, exposing banks to climate financial risks. But how should big banks respond to the climate crisis, and what is the role of COP 28 and national governments in regulating the banking sector?
At the Danish Pavilion, this COP 28 side event aims to inspire the financial sector, civil society, and regulators by highlighting opportunities, challenges, and lessons learned for redirecting financial flows away from fossil fuels.
Upcoming events
Designed to Fail: How fossil fuel infrastructure undermines municipal finances
This event presents research about the high costs of infrastructure in North American cities.
Making Green Tax Incentives Work: Protecting Revenue While Accelerating the Energy Transition
How green tax incentives can support low-carbon and resilient growth while protecting revenue in emerging and developing economies.
Weathering the Waters: Building climate resilience that pays off
Join us to explore Canada’s adaptation progress, the rising costs of delay (water, floods, drought), and new ways to finance resilience.
Natural Solutions for Water Security: Canada’s Policy Path Forward
This 2-day forum aims to advance strategic priorities and define practical next steps to accelerate the adoption of natural infrastructure as the new normal.