Peshkova/Shutterstock Save for later Print Download Share Financial institutions already seem to be weighing strategy shifts in response to the COP global stocktake, which called on countries to transition away from fossil fuels while accelerating green technologies, particularly renewable energy. The first such move 鈥� which could signal more to come 鈥� came from Credit Agricole. Just one day after COP28 concluded, the French banking giant announced it would reduce emissions associated with its oil and gas loans by 75% by 2030, instead of a previous target of minus 30%, and triple its annual financing of renewable energy between 2020-30. The Netherlands鈥� ING announced similar measures earlier this week. It will phase out upstream oil and gas financing by 2040 and triple renewables financing by 2025.
