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The article focuses on the involvement of the financial services industry in energy projects with environmental issues despite their pledge to reduce emissions. Topics discussed include the environmental impact of the the Enbridge Energy Line 3 oil pipeline, the funding provided by banks to the Enbridge project in the midst of a climate crisis, and the global consumption of fossil fuels according to data from the International Energy Agency.

After acknowledging BlackRock's belief that "climate risk poses investment risk", Blass wrote that BlackRock does not "dictate to companies what specific emission targets they should meet." As BlackRock's global chief investment officer for sustainable investing, he led a team that recommended investments in companies with strong ESG scores and warned BlackRock away from major polluters. Banks and investment firms have made a host of "net-zero" pledges in recent years. Indeed, Enbridge has been the top fossil fuel client of big banks in total dollars since the Paris climate change accords in 2015, bringing in nearly $100 billion in loans and equity investments through 2021. [Extracted from the article]

Indeed, Enbridge has been the top fossil fuel client of big banks in total dollars since the Paris climate change accords in 2015, bringing in nearly $100 billion in loans and equity investments through 2021. As BlackRock's global chief investment officer for sustainable investing, he led a team that recommended investments in companies with strong ESG scores and warned BlackRock away from major polluters. After acknowledging BlackRock's belief that "climate risk poses investment risk", Blass wrote that BlackRock does not "dictate to companies what specific emission targets they should meet." Banks and investment firms have made a host of "net-zero" pledges in recent years. [Extracted from the article]