This is a news story, published by CityNews, that relates primarily to ESR news.
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low carbon energy financingCityNews
•Science
Science
79% Informative
The Energy Supply Ratio, or ESR , measures how much money banks are directing to renewables versus oil and gas.
It aims to look more at how much banks are seizing the investment opportunities of the energy transition, rather than just criticizing them for funding still-needed fossil fuels.
BMO came in worst of all the big global banks with a ratio of 23 cents going to low-carbon energy for every dollar going to fossil fuels in 2023 .
Other Canadian banks did a little better, with TD at 41 cents , Scotiabank at 43 cents , RBC at 47 cents and CIBC at 72 cents .
National Bank was the only of the Big Six to have its low carbon energy financing surpass fossil fuels.
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