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
- •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.
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