Professional Enablers

Despite the imperative to prepare for a low-carbon economy, fossil fuel and timber companies have continued to incentivize growth and spend billions. These companies have been able to operate and expand in part by issuing securities, which allow them to raise capital.

While fossil fuel companies and deforestation-linked companies are the primary drivers of climate change, most companies in these industries could not operate without financing from banks. Banks provide loans as well as underwriting services that allow companies to issue new stocks and obtain debt financing through corporate bonds.

Investors depend on the Big Four to provide accurate accounting services and to provide independent evaluations and examinations of financial statements. However, evidence suggests that these services might not be as reliable as the firms claim.