PPP has mentioned a number of times that some of the most motivational pressure to decarbonize on certain industries (e.g. iron ore pelletization) is coming from lenders tying their credit facilities to borrowers achieving GHG reductions.
This is borne out by a press release (from April 2021) that I just came across in reading about COP26 / Glasgow: https://unfccc.int/news/new-financial-alliance-for-net-zero-emissions-launches
The Glasgow Financial Alliance for Net Zero (GFANZ), a group of 160+ firms "together responsible for assets in excess of $70 trillion" who say they want to "align with a net zero future" offers this bullet point that corroborates PPP's talking point:
- "Within 36 months of joining, banks will set a further round of sector-level targets for all or a significant majority of specified carbon-intensive sectors, including: agriculture; aluminium; cement; coal; commercial and residential real estate; iron & steel; oil & gas; power generation; transport."
Emphases mine... I bolded the industries that link to 1) Drosrite, 2) "Clients A, B, and C", and 3) Pyro Green-Gas.
I wanted to say that I hope these lenders "step on the gas" and "put the pedal to the metal" to go "full steam ahead." But carbon-intensive metaphors are inappropriate in this context. So I will just say that I hope they truly "walk their talk."