RBC Says ‘Desperate’ Times Spell Resurgence of Coal Finance (1)

The finance industry may be forced to put its climate goals on hold and step up funding for coal as war forces the world to quickly find alternatives to Russian gas, according to the head of investment strategy at RBC Europe Ltd.

“These are highly unusual circumstances,” Frederique Carrier said in an interview. “If it weren’t for the war, to have the same investor go from renewables to opening coal plants, one would think it illogical; but these are extremely exceptional circumstances, with a real menacing threat.”

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