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

The world’s largest banks committed $906bn in financing to the fossil fuel industry last year, an “unfathomable” increase in investment locking in years more of coal, oil and gas production as the world continues to overheat, a new report has found.

The surge in new fossil fuel lending, up $64bn or nearly 8% on 2024, shows that the world’s largest 65 banks are making decisions incompatible with international agreements to restrain rising global temperatures, according to the coalition of environmental groups behind the new analysis.

JPMorgan Chase is again the world’s leading financier of fossil fuels, according to the annual Banking on Climate Chaos report, after pushing $58bn to the sector last year – up 13% from 2024.

  • ExLisperA
    2·
    2 days ago

    And people tell me that if we just vote right the problem will be solved…

    Do we really have to wait for a mass casualty event before we start geo-engineering? We tried limiting emissions and we failed. Time for plan B.