Olivia Rosane is a staff writer for Common Dreams.
The world's 60 biggest banks funded fossil fuels to the tune of $6.9 trillion in the eight years following the Paris agreement. That's the conclusion of the 15th annual Banking on Climate Chaos report, which was published Monday and also found that the financial institutions lavished $705 billion on oil, gas, and coal in 2023—the hottest year on record.
Clients with major expansion plans in 2023 included the pipeline companies Enbridge, TC Energy Corp, and Sempra as well as NextDecade Corp and Rio Grande Valley LNG, which are developing new liquefied natural gas export capacity. Fossil fuel financing did decrease in 2023, down from $778.7 billion in 2022.
Citibank Climate Emergency Fossil Fuel Financing Fossil Fuels Jpmorgan Chase Lng
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