Greenpeace: Asset managers are 'ignoring' climate impact of bitcoin

Fossil fuels usage

Cristian Angeloni
clock • 2 min read

Greenpeace has called on the world’s biggest asset managers to tackle the impact their investments in bitcoin have on the climate.

In its Investing in Bitcoin's Climate Pollution - Big Finance is Betting on Dirty Bitcoin report, the organisation found financial services companies are adding to increased pollution and wider usage of fossil fuels by investing in and offering new products and services linked to bitcoin. Greenpeace said that in 2022, 62% of the electricity used for bitcoin mining globally - which it noted "consumes as much electricity as entire countries" - came from fossil fuels. The organisation pointed the finger at BlackRock, Fidelity Investments, Vanguard, Citigroup, JP Morgan Chace and Goldman ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

Boring Money's Holly MacKay: Sustainable fund label bingo
ESG

Boring Money's Holly MacKay: Sustainable fund label bingo

'Time for a rethink'

Holly MacKay
clock 25 October 2024 • 5 min read
ESG adoption in EMEA hits 'all-time high' amid global political and economic headwinds
ESG

ESG adoption in EMEA hits 'all-time high' amid global political and economic headwinds

Capital Group’s ESG Global Study

Sorin-Andrei Dojan
clock 23 October 2024 • 3 min read
Wealth managers and advisers say FCA's sustainability labels 'to boost trust'
ESG

Wealth managers and advisers say FCA's sustainability labels 'to boost trust'

Sustainability Focus most likely to be used

Sahar Nazir
clock 21 October 2024 • 2 min read
Trustpilot