Despite growing pressure on governments and banks to focus energy financing towards greener paths, some of the world's biggest banks have continued to increase their financing into companies active in the fossil fuel life cycle. In a 2024 report released by the Rainforest Action Network (ran.org), 60 of the world's largest banks put approximately 6.9 trillion U.S. dollars into financing fossil fuel companies between 2016 and 2023.
Although Europe's biggest banks were way behind U.S and Chinese banks in funding, the 14 European banks included still put over 150 billion U.S. dollars into financing fossil fuel companies in 2023. Europe's largest fossil fuel financer, Barclays, had actually decreased its funding from over 31 billion U.S. dollars in 2016 to under 25 billion U.S. dollars in 2023.
Total value of financing for companies active across the fossil fuel life cycle in Europe from 2016 to 2023, by bank
(in billion U.S. dollars)
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Rainforest Action Network. (July 11, 2024). Total value of financing for companies active across the fossil fuel life cycle in Europe from 2016 to 2023, by bank (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 03, 2024, from https://www.statista.com/statistics/1086184/value-of-financing-for-fossil-fuel-companies-by-european-banks/
Rainforest Action Network. "Total value of financing for companies active across the fossil fuel life cycle in Europe from 2016 to 2023, by bank (in billion U.S. dollars)." Chart. July 11, 2024. Statista. Accessed December 03, 2024. https://www.statista.com/statistics/1086184/value-of-financing-for-fossil-fuel-companies-by-european-banks/
Rainforest Action Network. (2024). Total value of financing for companies active across the fossil fuel life cycle in Europe from 2016 to 2023, by bank (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 03, 2024. https://www.statista.com/statistics/1086184/value-of-financing-for-fossil-fuel-companies-by-european-banks/
Rainforest Action Network. "Total Value of Financing for Companies Active across The Fossil Fuel Life Cycle in Europe from 2016 to 2023, by Bank (in Billion U.S. Dollars)." Statista, Statista Inc., 11 Jul 2024, https://www.statista.com/statistics/1086184/value-of-financing-for-fossil-fuel-companies-by-european-banks/
Rainforest Action Network, Total value of financing for companies active across the fossil fuel life cycle in Europe from 2016 to 2023, by bank (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1086184/value-of-financing-for-fossil-fuel-companies-by-european-banks/ (last visited December 03, 2024)
Total value of financing for companies active across the fossil fuel life cycle in Europe from 2016 to 2023, by bank (in billion U.S. dollars) [Graph], Rainforest Action Network, July 11, 2024. [Online]. Available: https://www.statista.com/statistics/1086184/value-of-financing-for-fossil-fuel-companies-by-european-banks/
