JPMorgan Chase leads 65 banks making decisions incompatible with restraining rising temperatures, researchers say

JPMorgan Chase leads 65 banks making decisions incompatible with restraining rising temperatures, researchers say

  • randomname@scribe.disroot.orgEnglish
    6·
    18 days ago

    From the original report:

    • Over a third of the world’s largest banks (26 of 65) reduced their fossil financing from the previous year, with some European banks and some Canadian banks driving most of that progress.
    • The remaining 39 banks moved in the opposite direction, and some US, Japanese, and Chinese banks were responsible for the largest year-on-year increases.
    • On balance, the world’s 65 largest banks committed $906 billion to companies conducting business in fossil fuels in 2025, up $64 billion or 7.6% from 2024.
    • Since 2021, global banks have funneled over $4.2 trillion in financing to fossil fuels, including $2.1 trillion to fossil firms in expansion.
      • randomname@scribe.disroot.orgEnglish
        1·
        18 days ago

        Yeah, but the US isn’t the only problem. While European banks and some Canadian banks reduced their fossil financing, some US, Japanese, and Chinese banks were responsible for the largest year-on-year increases.