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Top Banks Boost Fossil Fuel Funding by 20%

6/19/2025

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Summary

Story summary

In 2024, the world's largest banks ramped up fossil fuel financing by over 20%, totaling a staggering $869 billion, even as the call for net-zero emissions grows louder. U.S. giants like JPMorgan Chase were at the forefront, pouring in $289 billion, signaling a troubling backslide from climate pledges with $7.9 trillion funneled into fossil fuels since the Paris Agreement.

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Story summary

In 2024, the world's largest banks ramped up fossil fuel financing by over 20%, totaling a staggering $869 billion, even as the call for net-zero emissions grows louder. U.S. giants like JPMorgan Chase were at the forefront, pouring in $289 billion, signaling a troubling backslide from climate pledges with $7.9 trillion funneled into fossil fuels since the Paris Agreement.