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Banks and business are talking sense on climate at last. But it must not be just talk

Coal in Carney’s China

The Davos elites must not be permitted to shift from green-washing to ‘green-hushing’

After years of bragging about their climate policies, multinational businesses and international organisations are now going silent about their sustainability goals. They are no longer green-washing but “green-hushing”. Yet, green targets are bad for business and a terrible way to help the world. These actors shouldn’t just be quieter about them. They should stop this waste.

Perhaps the most blatantly self-defeating attempt to go green was by the fossil fuel industry. Back in 2020, BP made the extraordinary promise to slash oil and gas production by 40 per cent by 2030, boost renewable energy generation twentyfold, and even become a net-zero energy company. Since then, it has performed the worst among big oil, and two CEOs later, BP has now abandoned its green promises and recommitted to fossil fuel. Other big western oil companies are also returning to their roots – while state-owned oil giants like Saudi Aramco, Sinopec, Petrobras and Rosneft never made dramatic green promises in the first place.

More … 4 of Canada’s biggest banks leave Mark Carney-led climate initiative

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