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Banks backtracked on climate pledges last year, handing €750bn to fossil fuel firms

United Nations Bank of America Barclays Citigroup JPMorgan Chase NZBA

The world’s biggest banks increased their fossil fuel financing last year for the first time since 2021, a new report reveals.

The top 65 banks provided $869 billion (€751bn) to thousands of oil and gas majors in 2024 - the hottest year on record - representing a $162.5 billion (€141bn) jump from 2023.

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