Green drive dwarfed by lenders’ $1.9tr fossil fuel financing

china oil px230
By Mike Turner
25 Mar 2019

Banks have pumped $1.9tr into fossil fuel financing since the Paris Agreement was signed, according to a new report. This is despite the widespread push from investors and shareholders for a greener approach to funding business.

The four biggest global bankers of fossil fuel industries are all from the US. JP Morgan, Wells Fargo, Citi and Bank of America have provided $583bn of funding to fossil fuel companies since the United Nations’ Paris Agreement was signed in December 2015, according to ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial