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Bank of America Reverses Its Pledge Not to Finance Fossil Fuels (www.nytimes.com)
submitted 9 months ago by silence7@slrpnk.net to c/climate@slrpnk.net
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This leaves us with a loose collection of small banks and credit unions who aren't financing fossil fuels

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[-] silence7@slrpnk.net -1 points 9 months ago

It's a commercial enterprise, not a government one

[-] MrMakabar@slrpnk.net 10 points 9 months ago

But governments passed the bills against sensible business practices, by preventing lending money to fossil fuel companies, which are obviously in significant danger due to additional government regulation in other areas. Bloody Communists! Sorry Republicans.

The biggest problem is that this is global, so we are going to see large international banks also dropping similar language, due to the US market being massive and it being hard not to get sued over this.

[-] TWeaK@lemm.ee 5 points 9 months ago

Even still, surely the laws preventing them from refusing to invest in coal and other fossil fuels are uncosntitutional?

this post was submitted on 03 Feb 2024
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