top of page
  • Writer's pictureGustavo Bernal Torres

Banks Haven’t Quit Coal. Study Says Commercial Lenders Have Channeled $1.5 Trillion To The Industry

A report from Urgewald and Reclaim Finance says banks have channeled more than $1.5 trillion across the coal supply chain since the start of 2019.

  • Financial institutions from just six countries — the U.S., China, Japan, India, Canada and the U.K. — were found to be responsible for over 80% of coal financing and investment between January 2019 and November last year.

  • Most agree it’s necessary to fight rising temperatures, yet few major global banks are willing to shun profitable fossil-fuel clients. The biggest coal lenders included Mizuho Financial Group Inc., Barclays Plc, Citigroup Inc. and JPMorgan Chase & Co., the study showed. Chinese banks dominated underwriting of capital raised by the coal industry.



Recent Posts

See All

Transitioning businesses to employee ownership has the potential to significantly reduce the overall wealth gap as well as the racial equity gap. But it will take capital investment to scale. An inspi

A Response to “The Divestment Delusion” In August 2021, Nigerian Vice President Yemi Osinbajo bemoaned fossil fuel divestments, concluding that “the transition must not come at the expense of afforda

bottom of page