BATHINDA: The 13th annual banking on climate chaos report, the most comprehensive global analysis on fossil fuel banking to date, underscores the disparity between public climate commitments made by the world’s largest banks and the reality of their largely business-as-usual financing to the fossil fuel industry.
The 2021 fossil fuel financing numbers remained above 2016 levels, when the Paris Agreement was signed. Of particular significance is the revelation that the 60 banks profiled in the report funneled $185.5 billion in 2021 into the 100 companies doing the most to expand the fossil fuel sector.
