Banks slow to limit coal financing: NGO

Of the 638 banks surveyed, only 140 -- or about one in five -- had significantly reduced their exposure to the coal sector since 2016, the report found. Some 75 banks by contrast saw their investments in coal increase in the same period, according to the study led by the German NGO and partner organisations. Commercial banks were not reducing the amount they put into the coal industry at a rate sufficient to hit the Paris climate goal to limit global warming to 1.5C degrees above preindustrial times, Urgewald said.