There is a saying in English that goes put your money where your mouth is to call for consistency between what you say and what you do. Well, the global financial sector, five years after the signing of the Paris Agreement to stop global warming, is finally tuning in to the growing commitment of business and government to make progress in reducing greenhouse gas emissions.

According to an analysis by Bloomberg, which covers some 140 financial services institutions around the world, this year - up to mid-May - for the first time debt issuance, including bonds and loans, for renewable energy and other clean projects exceeded those for fossil fuel companies.