BlackRock and Vanguard are among the financial institutions that have told a UK inquiry they will continue to invest in fossil fuels and do not subscribe to the view that climate change plans require an end to new coal, oil and gas investment.

Ben Caldecott, Director of the UK Centre for Greening Finance and Investment, said: “This begs the question of what the criteria to be a member of GFANZ [Glasgow Financial Alliance for Net Zero] is. Financial institutions shouldn’t be investing in new fossil fuel infrastructure as this is not compatible with the aims of the Paris agreement.”

Read more via Financial Times

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