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Banks Earn Big on Green Bonds But Clean Up on Oil: Green Insight

May 5, 2021, 10:00 AM

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While investment bankers are on pace to earn record fees this year from selling green bonds, they still make far more money arranging debt issues and loans for fossil-fuel companies.

The numbers speak for themselves: $887 million of revenue from green bond customers, compared with $1.4 billion from fossil-fuel clients.

The imbalance remains despite CEOs of JPMorgan Chase & Co., Citigroup Inc. and other major banks repeatedly talking up the importance of protecting the environment. JPMorgan’s Jamie Dimon mentioned the word “climate” at least 10 times in a letter ...