CleanTechnica•about 1 month ago
New Report: Global Banks Financed Fossil Fuels with $8.7 Trillion Since the Paris Agreement, $906 Billion in 2025 Alone
Key Takeaway
Despite global climate commitments, major banks continue to heavily finance fossil fuels, indicating persistent investment in carbon-intensive energy and a challenging landscape for accelerating the clean energy transition.
AI Summary
- •Global banks, led by JPMorgan Chase and Bank of America, committed $906 billion to fossil fuel companies in 2025, an 8% increase from the prior year, totaling $8.7 trillion since the Paris Agreement.
- •This continued significant financing indicates ongoing investment in fossil fuel infrastructure, potentially slowing the energy transition and maintaining competition for renewable and storage projects.
- •For large power consumers and developers, this trend suggests continued availability of fossil fuel-based power, but also highlights a growing disconnect with climate goals, which could lead to future carbon pricing or stricter emissions regulations impacting long-term costs and investment strategies.
Topics
emissionsfinancingpolicy
Article Content
JPMorgan Chase and Bank of America are the world’s top two fossil fuel funders. NEW YORK, NY — The 17th edition of the Banking on Climate Chaos (BOCC) report released today 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. ... [continued] The post New Report: Global Banks Financed Fossil Fuels with $8.7 Trillion Since the Paris Agreement, $906 Billion in 2025 Alone appeared first on CleanTechnica .