Credit Suisse set new targets on Thursday to nearly halve its exposure to the financing of emissions from oil, gas and coal between 2020 and 2030.
The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland February 21, 2022. REUTERS/Arnd Wiegmann
Switzerland's second-biggest bank reduced its exposure to emissions it financed in the oil, gas and coal sector by 41% between 2020 and 2021, preliminary estimates in its sustainability report showed on Thursday, when it had some $2.6 billion in loans outstanding to such clients.The report marks the first time the bank detailed its exposure to financing emissions from the fossil fuel sector, which it estimated at 21.9 million tonnes of CO2 equivalent for 2021.
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