A new report highlights how 35 leading global banks have provided a staggering USD $2.7 trillion to fossil fuel companies since the Paris Agreement in 2015.
Report Finds Major Banks Ramped Up Fossil Fuel Financing to $115 Billion in 2017
The report finds that major private banks funneled $115 billion into extreme fossil fuels in 2017, an increase of 11% from 2016. The single biggest driver of the increase in financing came from the tar sands sector, where financing grew by 111% from 2016 to 2017.
Banking on Climate Change: Fossil Fuel Finance Report Card 2018
Rainforest Action Network, Oil Change International, Indigenous Environmental Network, Honor the Earth, BankTrack, and Sierra Club with 350.org, 350 Eugene, 350 Seattle, Amazon Watch, Asia Pacific Forum on Women, Law and Development, Bank Information Center, Bold Alliance, Carrizo/Comecrudo Tribe of Texas, Catskill Mountainkeeper, CEE Bankwatch, Center for Sustainable Economy, CHANGE, Christian Aid, Citizens Against LNG, … Read More
Banking on Climate Change: Fossil Fuel Finance Report Card 2017
Big banks’ business as usual is killing the climate. From 2014 to 2016, big banks around the world poured $290 billion into extreme fossil fuel companies and failed to respect human rights.