LONDON - The world’s leading 60 banks have provided $3.8 trillion (£2.8 trillion) of financing for fossil fuel companies since the Paris climate deal in 2015, according to a coalition of climate campaigners.
Overall funding remains on an upward trend and the cash provided in 2020 was higher than in 2016 or 2017, which the report’s authors described as “shocking”.
They said financing for exploiting new reserves is the “exact opposite” of what is required to tackle the climate crisis.
