Gustavo Bernal Torres
NGOs Name Top Banks Who Put $3.8 Trillion Into Fossil Fuels
The world’s biggest banks have pumped a staggering $3.8 trillion into fossil fuel industries over five years, a new report by an alliance of NGOs has revealed-
The report, ‘Banking on Climate Chaos,’ shows that the world’s 60 largest banks have actually increased their investments in fossil fuels since 2016, the year following the Paris Agreement, peaking in 2019 with total investments of $824 billion. That total dipped by 9% in 2020, in line with the global fall in fuel demand caused by the coronavirus pandemic.