How mega-polluters take advantage of billions in green loans
Companies don’t have to spend the money toward their sustainability targets, and neither they nor the banks have to disclose interest rates, benchmarks for success or the penalties for falling short. In the last several years, banks gave out more than $286 billion in these SLLs to hundreds of companies in environmentally damaging industries, including fossil fuels, mining and companies linked to significant deforestation, an investigation by The Examination, Toronto Star and Mississippi Today has found.