Credit Suisse to halve fossil fuel financing by 2030

This follows a 41% reduction in investments last year

Big Zero Report 2023

Credit Suisse has set a new target to halve its financing of oil, gas and coal emissions by 2030 from a 2020 base level.

It stated that it reduced this level by 41% last year in its sustainability report, also revealing this level was believed to be in the region of 21.9 million tonnes of carbon emissions.

The Swiss bank is now looking to redirect its investments and assets away from these industries after taking its first step in 2020 of not lending to companies that make more than 25% of their revenue from coal.

This number was stepped up last year to not lending to any companies that generate more than 5% of their revenues from the industry.

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