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.

New Report: Despite ‘Net Zero’ Rhetoric, World’s Biggest Banks Continued to Pour Billions into Fossil Fuel Expansion in 2021

March 30, 2022By Oil Change InternationalBlog Post, Featured, News, Press Releases 1 Comment

Released today, the 13th annual Banking on Climate Chaos report, the most comprehensive global analysis on fossil fuel banking to date, underscores the stark disparity between public climate commitments being made by the world’s largest banks, versus the reality of their largely business-as-usual financing to the fossil fuel industry.