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.
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