JPMorgan Chase, Mizuho and Bank of America were named as the biggest fossil fuel industry financers last year, in a report by climate campaigners which calculates the world’s biggest banks have provided a total $6.9tn to the sector in the eight years since the Paris climate accord.
The 15th annual report, produced by a coalition of campaign groups co-ordinated by the Rainforest Action Network, found the world’s 60 largest lenders had provided around $705bn in financing in 2023 alone.
In overall trends, finance related to gas-fired power, Arctic oil and gas, and ultra deepwater oil and gas projects fell last year, while it increased for companies focused on LNG.
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