Center for American Progress – Wall Street’s Carbon Bubble
During the U.N. Climate Change Conference (COP26), financial institutions and governments all over the world made unprecedented pledges and commitments to reduce financed emissions and begin to address climate-related financial risk. Now that the dust has settled, the real work of implementing these commitments begins. What will this mean for the Biden administration? Will President Joe Biden’s financial regulators endeavor to reign in banks and other financial institutions that continue to fund fossil fuels and other high-carbon-emitting industries or leave the U.S. economy and financial system at risk of another crisis?
Please join the Center for American Progress and Sierra Club for the launch of important new research revealing the enormous size of carbon emissions financed by the largest banks and asset managers in the United States and a discussion of actions the Biden administration can take to curtail this problem before the carbon bubble bursts.