Green Finance

The defining moment of COP26, environmental pushback on NFTs, Visa shows environmental impact of purchases

  • COP26 was a seminal moment in the emergence of green finance.
  • Discord users pushback on NFTs, Visa shows environmental impact of purchases, and more.

Email a Friend

The defining moment of COP26, environmental pushback on NFTs, Visa shows environmental impact of purchases

Tearsheet’s Green Finance newsletter is about the intersection of money and the environment. We’ll be in your inbox every other week, and share what we’re currently thinking about, and what’s been happening at three key areas in the intersection: corporate responsibility, blockchain, and green products and services.

To sign up for the Green Finance newsletter, subscribe here

COP26 is now over, and it concluded with a few agreements and a lot of hopes for the following COP next year. The summit’s outcome included commitments to halt deforestation, “phase down” coal power plants, and $130 trillion in private capital funding. Meanwhile, banks pledged to focus more on sustainable investments, but some remain skeptical on the progress actually achieved.

What happened at COP26? Follow the money.

green finance

The COP26 summit’s main outcome document was The Glasgow Climate Pact, which calls on 197 countries to accelerate climate-friendly actions and report their progress on the green agenda at COP27, which is set to take place in Egypt in November 2022. 

One of the key focuses at the summit was the financial sector. 

Mark Carney, the UN Special Envoy for Climate Action and Finance at COP26, assembled the Glasgow Financial Alliance for Net Zero, whichagreed to devote $130 trillion in private capital funding to hit net zero emission targets by 2050 and report yearly on their lending practices.

  • Its members represent over 450 financial institutions from 45 countries.
  • From the US, banks that participated included Bank of America, Citi, JPMorgan Chase, Morgan Stanley, Goldman Sachs and Wells Fargo.
  • Activists argued that the pledges were insufficient and demanded more immediate climate action, especially given the large financial support the banking industry has offered to fossil-fuel industries

JPMorgan Chase was the world’s top banker of fossil fuels, lending $317 billion between 2016 – 2020. The next three top fossil fuel financiers were also US banks, namely Citi, Wells Fargo and Bank of America, according to a report

Even if COP26 didn’t provide the solutions that green finance enthusiasts hoped for, it did push forward the climate agenda in the financial space. The need for more transparent banking and enhanced disclosures is now being addressed, even if through new alliances or promises. 

Read more

What we’re reading

Corporate responsibility

European financial platform Tink forges green finance partnership with Sustainability as a Service provider ecolytic (Finextra)

The uses and abuses of green finance (The Economist)

John Kerry: Companies that quickly embrace green tech will clean up (Financial Times)

Green finance does little to prevent global warming, report says (Bloomberg Law)


Top five environmentally sustainable cryptocurrencies to invest in for 2022 (CoinTelegraph)

Discord drops Ethereum and NFT integration plans after backlash from users citing environmental costs (CoinTelegraph)

How crypto-owning climate activists balance saving the planet with supporting energy-hungry Bitcoin mines (Fortune)

Cambridge University to build carbon credit marketplace on blockchain (CoinDesk)

Green products and services

Visa Eco Benefits allows consumers to see environmental impact of purchases (PYMNTS)

Saving the planet: how green bonds can help younger people invest in the future (The Guardian)

0 comments on “The defining moment of COP26, environmental pushback on NFTs, Visa shows environmental impact of purchases”

Green Finance

How fintechs like Aquaoso help banks assess climate risks in their lending portfolios

  • New climate-focused fintechs aim to help financial institutions with assessing their loan portfolios' climate-related risks.
  • These fintechs are filling a gap in the market, as financial institutions need better data capabilities to assess risks amid a changing regulatory environment.
Iulia Ciutina | January 21, 2022
Green Finance, Member Exclusive

Green Finance Briefing: Sustainable lending solutions and the rise of climate fintech

  • New innovations in fintech are bridging the gap between financial institutions and understanding climate risks in loan portfolios.
  • We're also looking at startups that have launched over the past few years targeting the intersection of climate risks, sustainability, ESG, investments and banking.
Iulia Ciutina | January 21, 2022
Green Finance, Member Exclusive

Green Finance Briefing: What to expect in 2022

  • Tearsheet’s new Green Finance Briefing is here to bring you the latest and greatest in the climate fintech and green investments space.
  • We kick off 2022 with an overview of what we should be keeping an eye on in the green finance space.
Iulia Ciutina | January 07, 2022
Green Finance

Green Finance Outlook 2022, Visa goes into crypto consulting and GreenClimateDAO

  • The Green Finance Outlook 2022 looks at the most significant trends in the space as the urgent need to transition towards a low carbon economy is beginning to materialize into action.
  • Visa launches crypto consulting services in push for mainstream adoption, GreenClimateDAO wants to unlock the power of the crowd to fight climate change, and more.
Iulia Ciutina | December 21, 2021
Green Finance, Member Exclusive

The Green Finance outlook for 2022: Trends, concerns and new entrants

  • Banking and climate fintech are set to grow closer next year, especially with new entrants coming in to bridge the gap and pair capital with clean projects.
  • There will be opportunities for traditional banking institutions looking to add “green” products for consumers, but also more environmentally-focused lending solutions.
Iulia Ciutina | December 16, 2021
More Articles