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26 Apr 2021

Report finds $3.8 trillion in fossil fuel financing by major banks despite calls for climate action

In March 2021 the Banking on Climate Change 2021 was released. The report finds that 60 private-sector banks have provided USD $3.8 trillion for fossil fuel projects in the five years since the Paris Climate Agreement (2016-2020). The report further notes that such financing continues to increase despite calls for banks to cut their fossil fuel financing.

This report is published annually. Please see last year's story for previous responses, media coverage and 2020 report.

The Business & Human Rights Resource Centre invited the biggest financiers of fossil fuel according to the report to respond.

Company Responses

ANZ Bank View Response
Scotiabank View Response
Toronto-Dominion Bank (TD Bank) View Response
Barclays View Response
Royal Bank of Canada View Response
Mitsubishi UFJ Financial Group View Response
Mizuho Financial Group

No Response

BNP Paribas View Response
Morgan Stanley View Response
Bank of China

No Response

Wells Fargo

No Response

Bank of America

No Response

JPMorgan Chase View Response
Citigroup View Response