“For the first time, more money was raised in the debt markets for climate-friendly projects than for fossil-fuel companies,” writes Bloomberg’s Tim Quinson. Data compiled by Bloomberg show that, in 2022, “roughly $580 billion was arranged in 2022 for renewable energy and other environmentally responsible ventures, while the oil, gas and coal industries turned to lenders and underwriters for closer to $530 billion.” However, high oil prices and profits, plus access to private equity and their own balance sheets, meant that fossil fuel companies didn’t need debt financing as much as in previous years. Read more here