World's biggest banks funneled $906B into fossil fuels last year
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The world's biggest banks have pledged a staggering $906 billion in financing to the fossil fuel industry last year, a new report has revealed.
The amount marks an "unfathomable" increase from 2024, locking in years more of coal, oil, and gas production as global temperatures continue to rise.
The report was released by a coalition of environmental groups who say that this trend is incompatible with international agreements aimed at curbing climate change.
The amount marks an "unfathomable" increase from 2024, locking in years more of coal, oil, and gas production as global temperatures continue to rise.
The report was released by a coalition of environmental groups who say that this trend is incompatible with international agreements aimed at curbing climate change.
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