New Report: Canadian Bank RBC the #1 Financier of Fossil Fuels, World’s Biggest Banks Continued to Pour Billions into Fossil Fuel Expansion

April 13, 2023By Oil Change InternationalFeatured, News, Press Releases 1 Comment

In the seven years since the Paris Agreement was adopted, the world’s 60 largest private banks financed fossil fuels with USD $5.5 trillion. The report lays bare the shocking fact that even as fossil fuel companies made $4 trillion in profits in 2022, banks still provided $673 billion in financing. Remarkably, this happened while oil majors like Exxon Mobil and Shell PLC asked for $0 financing from banks in 2022.