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Evening Standard
Evening Standard
Rebecca Speare-Cole

Banks significantly increased fossil fuel financing in 2024, analysis finds

Barclays HSBC NatWest United States JP Morgan Chase Lloyds Oil Oil Change International Reclaim Finance

The world’s biggest banks significantly increased their fossil fuel finance in 2024, according to an analysis.

The top 65 lenders – which include UK giants Barclays, HSBC, Natwest and Lloyds Banking Group – committed 869 billion dollars (£639 billion) in financing to fossil fuels, the 16th annual Banking on Climate Chaos report said.

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