BTG Pactual
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A high percentage of BTG Pactual's lending is to companies in the fossil fuel sector. This includes new funding of BRL28BN in 2024, which is incompatible with international climate goals. The extent of its financing of renewables is unclear.
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The bank believes that engagement with fossil fuel companies is more effective than exclusion of the sector from its portfolio. However, we know that engagement with fossil fuel companies has not, and is not, working. BTG has not measured its financed emissions, set targets and doesn't offer green products. It believes that bioenergy (more polluting than coal) is renewable.
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