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Report alleges major banks contribute to climate change through increased funding of fossil fuels
In May 2019, a group of NGOs led by Rainforest Action Network published research findings that suggest some of the biggest banks around the world are financing fossil fuels more than ever before. Since the Paris Agreement took effect in 2016, 33 of the top banks have contributed $1.911 trillion in fossil fuel financing.
Business & Human Rights Resource Centre reached out to the top banks named in the report for a public response:
- Bank of America has not yet responded
- Bank of China did not respond
- Bank of Montreal response
- Barclays response
- Citi response
- Deutsche Bank response
- Goldman Sachs did not respond
- HSBC response
- JPMorgan Chase response
- Mizuho response
- Morgan Stanley response
- MUFG has not yet responded
- RBC (Royal Bank of Canada) response
- Scotiabank response
- SMBC Group did not respond
- TD Bank response
- Wells Fargo response