Report Finds Global Banks Poured $1.9 Trillion into Fossil Fuel Financing Since the Paris Agreement was Adopted, with Financing on the Rise Each Year

A report released today by Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Sierra Club, and Honor the Earth, and endorsed by over 160 organizations around the world, reveals that 33 global banks have provided $1.9 trillion to fossil fuel companies since the adoption of the Paris climate accord at the end of 2015.

Banking on Climate Change 2019 reveals that the four biggest global bankers of fossil fuels are all U.S. banks — JPMorgan Chase, Wells Fargo, Citi, and Bank of America. Barclays of England, Mitsubishi UFJ Financial Group (MUFG) of Japan and RBC of Canada are also massive funders in this sector. …

An excerpt from Rainforest Action Network