In the 5 years since the Paris Agreement, the world’s 60 biggest banks have financed fossil fuels to the tune of $3.8 trillion. Runaway funding for fossil fuel extraction and infrastructure fuels climate chaos and threatens the lives and livelihoods of millions.
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18 NGOs released a joint report showcasing 12 of the most devastating fossil fuel projects that are currently planned or under development. These expansion projects alone would use up three-quarters of the total remaining carbon budget if we are to have a 66% probability of limiting global warming to 1.5° Celsius. #FightFor1Point5
The report [PDF} exposes the banks and investors that are providing financing to the fossil fuel companies.
The dirty business of financing the fossil fuel industry
BankTrack is a global network of non-governmental organizations cooperating in the field of private banks and sustainability.
Banking on Climate – Fossil Fuel Global Finance Report