The International Energy Agency was clear: net zero means no new oil & gas projects. Yet, since 2016, the 50 largest European banks have provided over $ 400 billion in loans to the 50 largest companies specializing in oil & gas production and there are no signs of stopping. The latest research by the British NGO Share Action shows that HSBC, Barclays and BNP Paribas are the biggest culprits, providing respectively $ 59 million, $ 48 billion and $ 46 billion since 2016. Italy's Unicredit (13, 59 billion) and Intesa Sanpaolo (11.83 billion) are close to the top ten.
Among the companies most financed by Unicredit and Intesa there is for both the compatriot ENI and the Russian Gazprom. After an increase in 2020, funding activity has dropped significantly in 2021, but remains consistent with pre-pandemic levels (2016-2019 average). 92 percent of the funding was in the form of general finance support for oil & gas companies, while only 8 percent of the funding was in the form of dedicated funding. The Net Zero Banking Alliance, launched four months ago and which brought together 40% of global lenders to facilitate emissions neutrality targets by 2050, has so far failed to have a strong impact.
Its members have provided at least $ 38 billion in funding to the top 50 oil and gas upstream expanders since its launch last April. Half of this was provided by four founding signatories: Barclays, BNP Paribas, Deutsche Bank and HSBC. Only a handful of banks restrict funding to oil and gas projects, and fewer still restrict funding to companies expanding oil and gas capacity. The banks say they want to help with the transition, but they don't ask the funded companies for specific plans to do so and they don't make it clear that there shouldn't be room for oil and gas expansion in these plans. Only Commerzbank, Crédit Mutuel, Danske Bank, La Banque Postale and NatWest have begun to limit funding for oil and gas projects. Commerzbank, Credit Mutuel and La Banque Postale have also pledged to limit funding even though this only applies to new customers in the case of Commerzbank. France's Banque Postale has created an important precedent by announcing its exit from the oil and gas sector by 2030 and will no longer finance oil and gas projects and companies if they have not committed to phasing out their oil and gas operations by 2040; it also requires that they do not develop new oil & gas projects, in line with the IEA guidelines.
The fourth edition of ITIL (IT Infrastructure Library) was presented by Axelos in February 2019. The ITIL v4 (PDF and other versions available) focuses on practical aspects of IT management and provides a holistic approach with emphasize on Agile, DevOps and digital transformation topics.#2Money master the game
Like all great adventurers, we’ll start by getting oriented for the trip. In chapter 1.4, you’ll learn more about the psychology of wealth, what holds us back, and some simple cures. You’ll uncover what it is you’re really investing for, and unleash the power of the best financial breakthrough strategies. Then, in the […]#3The Subtle Art of Not Giving a Fuck
The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life. In this generation-defining self-help guide, a superstar blogger cuts through the crap to show us how to stop trying to be “positive” all the time so that we can truly become better, happier people. For decades, we’ve […]#4Read People Like a Book
Read People Like a Book: How to Analyze, Understand, and Predict People’s Emotions, Thoughts, Intentions, and Behaviors (How to be More Likable and Charismatic).#5Fundamentals of Corporate Finance
Fundamentals of Corporate Finance 13th Edition (International Edition). This book was designed and developed explicitly for a first course in business or corporate finance, for both finance majors and non-majors alike. In terms of background or prerequisites, the book is nearly self- contained, assuming some familiarity with basic algebra and accounting concepts, while […]#6The Intelligent Investor
One of the greatest investors of the twentieth century, Benjamin Graham, proposed his philosophy of “value investing” that could protect investors from dramatic errors and teaches them to develop long-term strategies. This approach is exhaustively explained in The Intelligent Investor (PDF download available) book, which remains the stock market bible since its first […]#7How Money Works
Money is the oil that keeps the machinery of our world turning. By giving goods and services an easily measured value, money facilitates the billions of transactions that take place every day. Without it, the industry and trade that form the basis of modern economies would grind to a halt and the flow […]#8Business Communication
Everyday Business Storytelling: Create, Simplify, and Adapt A Visual Narrative for Any Audience. Communication is one of the basic functions of management in any organization and its importance can hardly be overemphasized. It is a process of transmitting information, ideas, thoughts, opinions and plans between various parts of an organization. Good and effective […]#9How Business Works
Every type of business has to choose an ownership structure. Although there are variations globally, most countries offer similar types of legal entities, from a single- person private enterprise to a massive organization trading on a stock exchange. There are three key considerations: how big the venture is expected to grow; the complexity […]#10Business Model Generation
It’s a book for the Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers (The Strategyzer series). Business Model Generation book provides practical tools for understanding, designing, and implementing a new business model or revamping an old one, co-created by 470 professionals from 45 countries and now practiced by millions around […]
The step up to a managerial role can be an exciting, but daunting, new challenge. Suddenly, you are responsible for making sure your team is working together, achieving results, and that overall your department is running smoothly. There is no single technique to becoming an excellent manager, but the Essential Manager’s Handbook provides […]#12Operations Management
Operations Management is important, exciting, challenging, and everywhere your look! Important, because it’s concerned with creating all of the products and services upon which we depend. Exciting, because it’s at the centre of so many of the changes affecting the world of business. Challenging, because the solutions that we find need to work […]#13Where Are the Customers Yachts
In 1940 Fred Schwed, a stockbroker whose father had lost everything as a short seller on Wall Street during the Roaring Twenties, published this timeless classic on how the stock market really works. Schwed, a pleasure-loving, cultured man who had been expelled from Princeton University in his final year for entertaining a lady […]#14Corporate Finance 11th Edition
Corporate Finance, Eleventh Edition This book has been written for the introductory courses in corporate finance at the MBA level and for the intermediate courses in many undergraduate programs. Some instructors will find our text appropriate for the introductory course at the undergraduate level as well.#15ISE International Business: Competing in the Global Marketplace
The 13th edition provides a complete solution that is relevant (timely, comprehensive), practical (focus on applications of concepts), integrated (integrated progression of topics) and the most up-to-date on the market. Available with Connect: Our highly reliable homework and learning management solution that embeds learning science and award-willing adaptive tools to improve student results.#16Winning: The Unforgiving Race to Greatness
Winning: The Unforgiving Race to Greatness (Tim Grover Winning Series) From the elite performance coach who wrote the international bestseller Relentless and whose clients included Michael Jordan, Kobe Bryant, and Dwyane Wade, comes this brutally honest formula for winning in business, sports, or any arena where the battle is relentless.#17Your Next Five Moves: Master the Art of Business Strategy
From the creator of Valuetainment, the number one YouTube channel for entrepreneurs, comes a practical and effective guide for thinking more clearly and achieving your most audacious business goals. Both successful entrepreneurs and chess grandmasters have the vision to look at the pieces in front of them and anticipate their next five moves. […]#18Your Next Five Moves
Your Next Five Moves: Master the Art of Business Strategy (Hardcover / Audio / Kindle). Creator of Valuetainment, the # 1 YouTube channel for entrepreneurs and “one of the most exciting thinkers” (Ray Dalio, Principles author) in business today, provides a practical and effective guide to thinking more clearly and getting the most out […]#19Finding the Winning Edge
When those who chronicle the history of the game list the individuals who had the greatest impact on the National Football League, Bill Walsh will clearly be among the names of Halas, Lombardi, Brown, Landry, Noll and Shula. But when you consider who has impacted the game most in terms of those who […]#20International GAAP 2020 2021
Generally Accepted Accounting Practice under International Financial Reporting Standards. The content of this book takes into account all accounting standards and other relevant rules issued up to September 2020. Consequently, it covers the IASB’s Conceptual Framework for Financial Reporting and authoritative literature listed below. References in the main text of each chapter to […]