HOT MONEY

The report finds that 40 financial institutions fund a combined methane footprint that could exceed 503 Mt CO2e. It highlights a significant gap between the climate commitments of the countries where these institutions are domiciled and the institutions' own internal policies, which are described as weak or non-existent regarding agri-methane.

• The top 20 equity investors have a combined attributable methane footprint of 68 Mt CO2e, with Vanguard, BlackRock, and State Street ranking as the top three contributors.
• The top 20 banks have a combined attributable methane footprint of 202.5 Mt CO2e, which is approximately three times that of the top 20 investors. Using an 'equal responsibility' estimation method, this footprint increases to 434.9 Mt CO2e.
• Among the 15 meat and dairy companies analysed, JBS and Marfrig are the largest emitters, together accounting for 52% of the total methane emissions (1.0 gigatonnes CO2e on a GWP20 basis).
• There is a stark misalignment between financial institutions and the Global Methane Pledge; while 39 of the 40 institutions are domiciled in signatory countries, none have signed a specific methane reduction commitment.
• Policy frameworks within these financial institutions are largely insufficient for agriculture; only nine of the 40 institutions have a methane policy, and all of these focus on oil and gas rather than livestock.
• Sustainable agriculture policies are also limited in scope; although 15 institutions have such policies, they primarily focus on deforestation and land degradation, with only three referencing methane.
• Sovereign wealth funds from Brazil and Norway are significant investors in the 15 companies but lack public policies to address methane emissions from livestock, despite their sponsoring countries being Global Methane Pledge signatories.

APA

Changing Markets Foundation (2023). HOT MONEY. https://changingmarkets.org/wp-content/uploads/2023/10/Hot-Money-Report-1.pdf

Chicago

Changing Markets Foundation. HOT MONEY. 2023. https://changingmarkets.org/wp-content/uploads/2023/10/Hot-Money-Report-1.pdf.

Wikipedia

{{cite report |author=Changing Markets Foundation |title=HOT MONEY |date=January 2023 |url=https://changingmarkets.org/wp-content/uploads/2023/10/Hot-Money-Report-1.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{changingmarketsfoundation2023hot, author = {{Changing Markets Foundation}}, title = {{HOT MONEY}}, institution = {Changing Markets Foundation}, year = {2023}, month = jan, url = {https://changingmarkets.org/wp-content/uploads/2023/10/Hot-Money-Report-1.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }