Banks Back Fossil Fuels With $7.1 Trillion

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Banks Back Fossil Fuels News

Banks,Bank Of America,David Tong

The intersection of innovation and global challenges such as climate change and sustainable development are driving change in the economy.

out a wildfire in the Moncayo Natural Park, near the village of Borja, in the northern region of Aragon on August 15, 2022. - Firefighters today were battling strong winds trying to fight a huge forest fire blazing out of control in southeastern Spain as another in the north was stabilised.

shot up to second place in the report in both fossil fuel financing and financing for the expansionThe report shows high bank financing for the most climate-damaging fossil fuel practices.

Moreover, 52% of investors that were influenced to choose their ISA based on sustainability credentials actually have their money in providers classed as ‘worst’ for their environmental impact – suggesting the impact of greenwashing is leading well-intentioned consumers to providers that continue to fund areas that are fuelling climate change and harming the planet.

 

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