Is your bank funding climate change? - Which? News

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Is your bank funding climate change? - Which? News

https://www.which.co.uk/news/article/is-your-bank-funding-climate-change-aR3xl7W6N1XN

Banks named and shamed for financing fossil fuels

Is your bank funding climate change? - Which? News

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.