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Plug Power to build up to six new hydrogen plants for EV industry, after getting US$1.66-billion loan guarantee https://t.co/6bIdtOG6aA
US offers conditional $1.66 billion loan to hydrogen producer Plug Power https://t.co/IZokSCLWJJ https://t.co/dnKfqc64Dg
Hydrogen producer Plug Power surged in early trading after the Biden administration offered the US company a conditional commitment for $1.66 billion in loan guarantees to finance the construction of up to six facilities. https://t.co/Ok4Rk2KztY
Major banks worldwide have provided nearly $7 trillion in financing to the fossil fuel industry since the Paris climate accord, with $705 billion in 2023 alone. The increase in financing was largely driven by investments in the LNG sector. Despite net-zero commitments, banks continue to invest heavily in fossil fuels, as highlighted in the Banking on Climate Chaos report.