Banks named and shamed for financing fossil fuels

JPMorgan Chase was named the biggest fossil fuel financier in the world, having increased its financing from $38.9bn in 2022 to $40.8bn in 2023.

It ranked among the worst banks in terms of financing to companies involved in fossil fuel expansion. It was also one of the biggest financiers of: racked oil and gas; Amazon oil and gas; and methane gas power.

Barclays was labelled the number one fossil fuel funder in Europe, lending $24.5bn in 2023 up from $16.58bn in 2022.

It was singled out for financing what the report describes as ‘deadly’ coal power plants in the United States, despite high profile climate commitments.

  • SeaJ@lemm.ee
    2·
    2 months ago

    Thanks. Unfortunately with B corporations, it’s self reported and a lot of the measurements are vague.