Big banks struggles to handle climate change impact, financing fossil fuel companies

World Today

Climate change campaigners say the banking sector must do its part to help the planet – by scaling back financing for fossil fuel companies.

Research from a group of NGOs found private banks have poured $3.8 trillion into the fossil fuels industry since the adoption of the Paris Climate Agreement.

But analysts say banks are responding to customer needs and cannot simply cut off their financing.

CGTN’s Sarah Walton reports.