Fig. 3: Phase-out value, efficiency, and multiplier for different finance limit percentages.
From: The challenge of phasing-out fossil fuel finance in the banking sector
a Banks exit the fossil fuel sector in a random order (321 banks total). The cumulative value of impacted deals using a finance limit of 10% (blue dashed); this includes both the deals which do, and do not, succeed in acquiring substituted finance. The cumulative value of the deals which fail (orange solid). b The total relative phase-out efficiency (see methods for definition) for different finance limits in the phase out model. If few banks exit the sector, efficiency is low since deals successfully substitute finance. Beyond a tipping point, efficiency grows rapidly. c The total phase-out multiplier (see methods for definition) for different finance limits. A multiplier larger than 1 indicates that the direct phase-out of finance by one bank has forced the indirect phase-out of finance from syndicate partners. All curves correspond to the median value across 100 random simulations. Shaded regions correspond to the inter-quartile range across the 100 simulations.
