There's an English saying that goes "put your money where your mouth is" to call for consistency between what one says and what one does. Well, five years after the Paris Agreement was signed to halt global warming, the global financial sector is finally aligning with the growing commitment by companies and governments to make progress in reducing greenhouse gas emissions.

According to a Bloomberg analysis covering some 140 financial institutions worldwide, this year—through mid-May—for the first time, debt issuance—including bonds and loans—for renewable energy and other clean energy projects exceeded that for fossil fuel companies.