BNS:CC - 'Climate Chaos' Can Sink Major Banks?
2024-05-17 08:00:00 ET
Summary
- Fossil fuel financing is a high-risk operation.
- A number of the larger banks have this additional risk on their balance sheets.
- You have to engage in due diligence regarding the banks that house your hard-earned money to make sure you're not caught during a banking crisis.
The 2024 Banking on Climate Chaos report was published this week. This report examines the global banking industry’s exposure to fossil fuel financing. We're closely following these reports, as energy-related loans generally tend to be one of the worst-performing lending segments from an asset quality perspective in a crisis environment....
'Climate Chaos' Can Sink Major Banks?