Global banks financed fossil fuels with $8.7 trillion since the Paris Agreement; $906 billion in 2025 alone; JPMorgan Chase, Bank of America, and MUFG are the world’s three worst funders

Released recently, the 17th edition of Banking on Climate Chaos (BOCC) report finds that the world’s 65 largest banks committed $906 billion to fossil fuel companies in 2025, an increase of 8% from the previous year. Since the Paris Agreement was signed a decade ago, these banks have channeled $8.7 trillion into oil, gas, and coal operations. The report is the world’s most comprehensive open-source dataset on fossil fuel financing by commercial banks. The report finds that JPMorgan Chase remains the #1 fossil fuel financier in the world, providing $58…

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Just 7% of global banks’ energy financing goes to renewables, new data shows

Major global banks are standing in the way of climate targets with new data showing just 7% of their financing for energy companies went to renewables between 2016 and 2022.  The data, produced for Sierra Club, Fair Finance International, BankTrack and Rainforest Action Network, indicates major failings by financial institutions to help meet global commitments on net zero emissions by 2050 since it shows shockingly low financial support through loans and bond underwriting for clean energy. It calls into question pledges from the industry-led Glasgow Financial Alliance for Net Zero…

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