Credit Suisse is to provide at least $328bn in sustainable financing over the next decade, in the latest announcement by global banks on ESG financing.

Reuters is reporting the move as part of the general move to present green credentials and aid the transition to a low-carbon economy as investors and regulators demands on the climate start to bite.

Credit Suisse will also cut exposure to the oil and gas sector, again in line with recent competitor announcements, including restricting lending and capital markets underwriting to companies operating in thermal coal extraction, coal-fired power generation and Arctic drilling.

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