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RAN report finds $3.8 trillion in fossil fuel financing by major banks despite calls for climate action

RAN report finds $3.8 trillion in fossil fuel financing by major banks despite calls for climate action

In March 2021, Rainforest Action Network (RAN) published the Banking on Climate Change 2021 report. The report finds that 60 private-sector banks have provided USD $3.8 trillion for fossil fuel projects in the five years since the Paris Climate Agreement (2016-2020). The report further notes that such financing continues to increase despite calls for banks to cut their fossil fuel financing.

This report is published annually. Please see last year’s story for previous responses, media coverage and 2020 report.

The Business & Human Rights Resource Centre invited the biggest financiers of fossil fuel according to the report to respond.

Read more www.business-humanrights.org

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