Snapshot from Jun 25, 2026 at 22:38 UTC. For live data and tracking: View Live
Events / Business / Global Banks Increase Fossil Fuel Financing
Business fossil fuel financing

Global Banks Increase Fossil Fuel Financing

Analysis based on 14 articles · First reported Jun 09, 2026 · Last updated Jun 09, 2026

Sentiment
-70
Attention
6
Articles
14
Market Impact
Direct
Live prominence charts, article sentiment distribution, and event development timeline available on the NewsDesk Dashboard
Market Impact

The significant increase in fossil fuel financing by major banks, led by JPMorgan Chase, indicates a continued reliance on carbon-intensive industries, which could lead to increased regulatory pressure and reputational damage for these financial institutions. This trend also suggests a potential for higher carbon emissions, impacting global climate goals and potentially leading to long-term economic instability due to climate-related disasters.

banking energy environmental services
Event Summary

A new report, 'Banking on Climate Chaos', reveals that the world's 65 largest banks collectively increased their fossil fuel financing by 8% in 2025, reaching USD906 billion. This surge, up from USD869 billion in 2024, marks a troubling reversal of a three-year decline in investment. JPMorgan Chase remains the top financier, committing USD58 billion, followed by Bank of America and MUFG. UK banks like Barclays, HSBC, NatWest Group, and Lloyds Banking Group also contributed significantly, with Barclays being the UK's largest financier. The report, co-authored by Rainforest Action Network and Reclaim Finance, highlights that since the Paris Agreement in 2015, banks have invested USD8.7 trillion into fossil fuels, contradicting the International Energy Agency's advice against new projects. Many lenders have scaled back climate commitments, with the United Nations Environment Programme Finance Initiative disbanding, partly influenced by political shifts like Donald Trump's re-election. Environmental groups are calling for stronger government regulations to redirect capital away from polluting industries, as voluntary pledges have proven insufficient.

Key Actions
100 JPMorgan Chase committed financing
80 Bank of America committed financing
70 MUFG committed financing
70 Barclays committed financing
60 Citigroup committed financing
60 HSBC committed financing
50 Standard Chartered committed financing
50 Donald Trump influenced banks
40 NatWest Group committed financing
40 Lloyds Banking Group committed financing
30 BNP Paribas reduced financing
30 UBS reduced financing
30 CaixaBank reduced financing
Entities Involved
stock
JPMorgan Chase
JPMorgan Chase is identified as the world's top fossil fuel financier, committing USD58 billion in 2025, a 13% increase from 2024. This makes it a central figure in the criticism regarding increased fossil fuel investment.
Importance 100 Sentiment -80
alliance
Paris Agreement
The Paris Agreement is an international deal to limit rising temperatures. The report highlights that banks have invested USD8.7 trillion into fossil fuels since its inception, demonstrating a significant failure to align with its goals.
Importance 90 Sentiment -80
ngo
Rainforest Action Network
Rainforest Action Network is a co-author of the 'Banking on Climate Chaos' report, which exposed the increased fossil fuel financing by major banks. Its research and advocacy highlight the incompatibility of bank actions with climate goals.
Importance 80 Sentiment 60
stock
Bank of America
Bank of America committed the second largest amount to fossil fuels last year. It is a key player in the global increase of fossil fuel financing, despite its stated support for clean energy.
Importance 80 Sentiment -70
stock
Barclays
Barclays is identified as the UK's top financier of fossil fuels in 2025, committing USD34 billion, ranking 8th globally. While its financing decreased by 5% last year, it remains a significant contributor to fossil fuel expansion, facing scrutiny from environmental groups.
Importance 70 Sentiment -50
ngo
Reclaim Finance
Reclaim Finance is part of the coalition that analyzed banks' lending to the fossil fuel industry, contributing to the 'Banking on Climate Chaos' report. Its work aims to drive capital away from polluting industries.
Importance 70 Sentiment 60
stock
MUFG
MUFG is a Japanese bank that ranks among the top fossil fuel financiers globally, contributing to the overall increase in investment.
Importance 70 Sentiment -60
per
Niko Lusiani
Niko Lusiani, research director at the Rainforest Action Network and co-author of the report, provides expert commentary on the implications of increased fossil fuel financing and the need for stronger regulations.
Importance 70 Sentiment 70
ngo
BankTrack
BankTrack is a campaign group that co-authored the 'Banking on Climate Chaos' report, advocating for binding rules to shift capital away from polluting industries.
Importance 70 Sentiment 60
alliance
United Nations Environment Programme Finance Initiative
The United Nations Environment Programme Finance Initiative, a UN-backed scheme, was disbanded after high-profile departures, indicating a failure of voluntary commitments to align banks' lending with net zero emissions scenarios.
Importance 70 Sentiment -70
stock
HSBC
HSBC committed USD16 billion to fossil fuels in 2025, ranking 25th globally. Its financing increased by 16% last year, indicating a move away from climate goals despite broader environmental concerns.
Importance 60 Sentiment -40
alliance
International Energy Agency
The International Energy Agency's recommendation that no new fossil fuel projects should be developed is cited in the report, underscoring the contradiction between scientific advice and bank financing practices.
Importance 60 Sentiment 50
per
Diogo Silva
Diogo Silva, campaign lead at BankTrack and co-author, emphasizes the failure of voluntary climate pledges and the necessity of binding rules for banks.
Importance 60 Sentiment 70
stock
Citigroup
Citigroup is a US bank that rounds out the top five fossil fuel financiers, contributing to the overall increase in investment despite its stated commitment to net zero financed emissions.
Importance 60 Sentiment -60
cnt
United States
The United States is one of the six jurisdictions from which almost all fossil fuel financing originates. The political climate, particularly with Donald Trump's re-election, has influenced banks to water down climate goals.
Importance 60 Sentiment -30
+ 14 more entities View on Dashboard
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