Wall Street, like the Climate Bill, bets on both green energy and fossil fuels

The climate and energy law that Congress just passed includes spending on both renewable energy startups and fossil fuel producer—A broad, even if seemingly contradictory, strategy that many on Wall Street have been pursuing.

While pouring money into projects aimed at reducing carbon emissions, Wall Street companies has also continued to fund oil and gas companies through direct lending, debt underwriting or infrastructure investment. According to Dealogic, the amount raised through bonds and loans to green projects and oil and gas companies was roughly the same at about $570 billion last year. While fundraising in both sectors has slowed during this year’s volatile market, the share of green fuel funding for fossil fuels has remained roughly the same.

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