Report: World’s Largest Banks Still Pour Trillions Into Fossil Fuels

Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016

Tthe 12th edition of the most comprehensive report on fossil fuel bank financing documents an alarming disconnect between the global scientific consensus on climate change and the continued practices of the world’s largest banks. This year’s report, titled Banking on Climate Chaos 2021, expands its focus from 35 to 60 of the world’s largest banks and reveals that in the 5 years since the Paris Agreement was adopted, these banks have pumped over $3.8 trillion into the fossil fuel industry. The report also concludes that fossil fuel financing was higher in 2020 than in 2016, a trend that stands in... ... More: Official Press Release RAN

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Rainforst Action Network, RAN, bank, global, investment, climate group, climate change, fossil, money, financing