Changing Scandinavian Banks’ fossil fuel finance

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This master thesis is focused on analyzing the policy arrangements in which Scandinavian banks and CSOs are operating, strategies and tactics CSOs are using and their possible impact towards the fossil fuel finance of commercial Scandinavian banks. The main research question - “To what extent do the efforts of civil society organizations have an influence on the fossil fuel financing of Scandinavian commercial banks?”. Several qualitative research methods have been employed: case study research with interviews with CSOs and bank representatives, and a literature and document analysis. The overall observations show that there are concrete and tangible results of CSOs work. Yet, the regarded scope of influence depends on the observer's point of view. If influence significance is measured by overall CSOs goals to completely stop fossil fuel finance, then their current impact may seem negligible. However, considering the limitations of CSOs, it is surprising how much they actually manage to reach within their leverage. Yet, it is not enough to completely change fossil fuel finance. Further collaboration between civil, private and public sectors is crucial in order to produce actual solutions. Right now, the speed of changes is far from needed to reach the goals of the Paris agreement.
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