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Banking on Climate Chaos Report
April 19 , 2023
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- World’s 60 largest banks have spent a staggering $5.5 trillion or Rs 4,49,36,265 crore on financing fossil fuel projects since the Paris Agreement was signed in 2016.
- United States was the top financier of fossil fuels, providing 28% of total financing in the fossil fuel sector in 2022.
- As much as $673 billion was spent on fossil fuel financing in 2022 alone.
- Canada and Japan were the top financiers for fossil fuels from 2020-2022.
- G7 countries provided $73 billion in public finance for fossil fuels from 2020-2022.
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