As 2023 almost comes to a close, Lucie Pinson, founder and executive director of Reclaim Finance, a French non-profit that reports on financial institutions’ progress on delivering on climate action, is cautiously upbeat.
The momentum around climate change and fossil fuel financing in 2023 is still building, she says, because the banking sector is at “the very beginning” of moving away from fossil fuels. But she highlights increasing progress around the “first pledges from banks to stop funding new oil and gas fields and to start restricting support for companies active in the oil and gas industry”. These commitments are a step forward, she says.
