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Four US banks are the world's largest fossil fuel financiers: analysis

...The analysis, conducted by a group including the organizations BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, and the Sierra Club, estimates that J.P. Morgan Chase provided nearly $65 billion in fossil fuel financing last year, the largest out of any of the 35 banks listed in the report...The report comes at a time when financial institutions who provide money to fossil fuel companies are facing increased scrutiny...

J.P. Morgan Chase and Goldman Sachs have said they will stop approving loans to companies pursuing new fossil fuel drilling in the Arctic. Wells Fargo has also said that it does not directly finance oil and gas projects in the Arctic...Alison Kirsch, the climate and energy lead researcher at Rainforest Action Network said in a statement that the findings show “a deeply disturbing picture of how financial institutions are driving us toward climate disaster.”...The report also found that between the start of 2016 and the end of 2019, the 35 banks have financed fossil fuels with more than $2.7 trillion combined. “It is long past time for all banks to pull their support for dirty fossil fuels, and our movement will continue to fight to ensure that they do," said a statement from Ben Cushing, a campaigner from The Sierra Club’s Beyond Dirty Fuels initiative.

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