Renewables Financing Tops Fossil Fuel Lending For The First Time Ever

Banks arranged and underwrote more capital for the development of renewable energy projects than for oil, gas, and coal firms for the first time ever last year.   Last year’s slump in capital raised by the fossil fuel industry doesn’t necessarily mean that there is a marked shift away from oil and gas lending.

It may have just been the result of healthier balance sheets of oil and gas firms amid soaring commodity prices and the tapping of alternative financing, such as from private equity or asset-backed securitization transactions. …