'Deeply disturbing': Just 35 banks have handed $2.7tr to fossil fuels since 2015, study finds

Michael Holder
clock
Fossil fuels continue to benefit from trillions of dollars of lending and underwriting from major banks, according to study
Image:

Fossil fuels continue to benefit from trillions of dollars of lending and underwriting from major banks, according to study

Major study backed by 250 NGOs and environmental organisations claims financing for fossil fuels has risen every year since the Paris Agreement was signed

Just 35 banks around the world have together financed fossil fuel projects to the tune of over $2.7tr over the four years since the Paris Agreement was adopted in 2015, a major new study has found, once...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech developments
  • Stay in the know with our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Tap into our extensive archive of exclusive articles, news, analysis and guides
  • Choose from 3 paid membership levels or start a 7-day no strings trial

Join nowTry 7 day trial

 

Already a BusinessGreen member?

Login

More on Investment

Credit: GreenBiz.com

Can Elon Musk save ESG?

The decision to remove Tesla from one of the world's most influential ESG indexes raises important questions over how companies' environmental credentials are judged

Joel Makower, GreenBiz.com
clock 27 May 2022 • 6 min read
Credit: iStock

Royal Mail, Co-op and Marks & Spencer pension schemes target net zero

British household names commit to halving emissions in their pension portfolios by 2030

Martin Richmond
clock 26 May 2022 • 2 min read
Rooftops in Jordanhill, West Glasgow | Credit: iStock

The UK's net zero target is under threat because there's no plan to pay for it

Building decarbonisation is critical to delivering a net zero Britain, but neither the Treasury nor Scottish government have set out a vision for how a mass green homes retrofit programme could be funded, writes Glasgow Caledonian University’s Keith Baker...

Keith Baker, Glasgow Caledonian University
clock 26 May 2022 • 4 min read