Since the Paris Agreement of 2016, some of the world's largest investment banks have provided billions of dollars to finance fossil fuel companies expansions in areas such as fracking and Arctic oil and gas exploration. Of these banks, the majority are American, with JPMorgan Chase as the leading financer. In 2021, JPMorgan's financed expanding fossil fuel companies with 15.8 billion U.S. dollars. Fossil fuel companies are the biggest emitters of greenhouse gases on the planet, with the biggest polluter the state-owned oil and gas company Saudi Aramco.
Leading investment banks for expanding fossil fuel companies from 2016 to 2021
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Rainforest Action Network. (April 5, 2022). Leading investment banks for expanding fossil fuel companies from 2016 to 2021 (in billion U.S. dollars) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1130383/top-bankers-for-fossil-fuel-expanding-companies-globally/
Rainforest Action Network. "Leading investment banks for expanding fossil fuel companies from 2016 to 2021 (in billion U.S. dollars)." Chart. April 5, 2022. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1130383/top-bankers-for-fossil-fuel-expanding-companies-globally/
Rainforest Action Network. (2022). Leading investment banks for expanding fossil fuel companies from 2016 to 2021 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1130383/top-bankers-for-fossil-fuel-expanding-companies-globally/
Rainforest Action Network. "Leading Investment Banks for Expanding Fossil Fuel Companies from 2016 to 2021 (in Billion U.S. Dollars)." Statista, Statista Inc., 5 Apr 2022, https://www.statista.com/statistics/1130383/top-bankers-for-fossil-fuel-expanding-companies-globally/
Rainforest Action Network, Leading investment banks for expanding fossil fuel companies from 2016 to 2021 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1130383/top-bankers-for-fossil-fuel-expanding-companies-globally/ (last visited July 22, 2024)
Leading investment banks for expanding fossil fuel companies from 2016 to 2021 (in billion U.S. dollars) [Graph], Rainforest Action Network, April 5, 2022. [Online]. Available: https://www.statista.com/statistics/1130383/top-bankers-for-fossil-fuel-expanding-companies-globally/