Energy companies like Shell and Drax obtained billions in sustainability-linked loans, which require less accountability than traditional loans regarding environmental impact and disclosure.
Despite the 'green' labeling, sustainability-linked loans lack strict commitments, allowing companies to receive substantial funding without necessarily implementing environmental improvements.
An investigation found that nearly 20% of sustainability-linked loans, amounting to over $286 billion, were given to industries that are traditionally environmentally damaging.
Drax, claiming to lead on renewable energy, was awarded significant loans while simultaneously facing environmental regulatory issues, highlighting contradictions in corporate sustainability practices.
#sustainability-linked-loans #environmental-accountability #corporate-loans #green-financing #polluting-industries
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