World’s Top Banks Financed Fossil Fuels $742 Billion in 2021 The 60 largest banks in the world poured as much as $742 billion in fossil fuel financing in 2021 alone, a new report by environmental groups showed this week.
Since the Paris Agreement was adopted in 2015, the world’s largest commercial and investment banks have financed fossil fuels with a cumulative $4.6 trillion, according to the annual Banking on Climate Chaos report from Oil Change International, Rainforest Action Network, BankTrack, Indigenous Environmental Network, Reclaim Finance, Sierra Club, and Urgewald.
Banks have come under increased pressure and scrutiny over the past years to stop funding fossil fuels.
( Incredible on how volatile the good news and bad news could be for the O & G industry on a daily basis. )