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
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