'Banking on Climate Chaos': How banks have provided fossil fuel firms with almost $7tr since the Paris Agreement

Stuart Stone
clock • 11 min read
Credit: iStock
Image:

Credit: iStock

Fifteenth annual Banking on Climate Chaos study finds world's biggest banks gave more than $705bn to fossil fuel firms in 2023 alone, despite many being committed to reaching net zero emissions

The world's 60 largest private banks have provided just shy of $7tr in funding to the fossil fuel industry since 196 nations signed the Paris Agreement, with $705.8bn of investments confirmed in 2023 alone,...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Investment

UNEP: Annual global investment in forests needs to triple to $300bn by 2030

UNEP: Annual global investment in forests needs to triple to $300bn by 2030

Tropical forests provide huge range of vital services on which humanity depends, yet conservation funding shortfalls are set to reach over $200bn a year by the end of the decade

Michael Holder
clock 15 October 2025 • 4 min read
Lidl GB to plough £30bn into British food and farming over next five years

Lidl GB to plough £30bn into British food and farming over next five years

Discounter doubles food and farming funding pledge in bid to enhance climate resilience and promote more sustainable farming practices

Stuart Stone
clock 15 October 2025 • 2 min read
Over half of National Wealth Fund investment allocated to clean energy projects

Over half of National Wealth Fund investment allocated to clean energy projects

NWF's annual impact report confirms that for every £1m invested, fund is helping to avoid 6,900 tonnes of CO2 equivalent

Stuart Stone
clock 14 October 2025 • 3 min read