Episode description

We’ve been told that big finance is crucial to the transition to net zero, and billions of dollars are invested in so-called sustainable finance every year. But the BBC’s Climate Editor Justin Rowlatt, together with the Bureau of Investigative Journalism, have been looking into a new green finance product and found that not all is quite as it seems.

Their investigation has found an example of sustainable finance backed by the multi-national bank HSBC being used to help extract a vast new reserve of fossil fuels in Brazil. And it's not the only one. Some question how this can happen, while others defend it. Presenters Justin Rowlatt and Graihagh Jackson are joined by: Tariq Fancy, former Global Chief Investment officer for Sustainable Investing at BlackRock Caroline Harrison, Head of Market Intelligence Research at Climate Bonds Initiative Ulf Erlandsson, Chief Executive at the Anthropocene Fixed Income Institute Julia Carneiro, journalist based in Brazil Email us: theclimatequestion@bbc.com

Producers: Sophie Eastaugh and Miho Tanaka Researcher: Natasha Fernandes Series Producer: Alex Lewis Editors: Bridget Harney and Richard Fenton-Smith Sound engineer: Tom Brignell Production coordinators: Siobhan Reed and Helena Warwick-Cross