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 2023, JPMorgan's financed expanding fossil fuel companies with 19.3 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 2023
(in billion U.S. dollars)
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Rainforest Action Network. (July 11, 2024). Leading investment banks for expanding fossil fuel companies from 2016 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 23, 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 2023 (in billion U.S. dollars)." Chart. July 11, 2024. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/1130383/top-bankers-for-fossil-fuel-expanding-companies-globally/
Rainforest Action Network. (2024). Leading investment banks for expanding fossil fuel companies from 2016 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 23, 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 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 11 Jul 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 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1130383/top-bankers-for-fossil-fuel-expanding-companies-globally/ (last visited November 23, 2024)
Leading investment banks for expanding fossil fuel companies from 2016 to 2023 (in billion U.S. dollars) [Graph], Rainforest Action Network, July 11, 2024. [Online]. Available: https://www.statista.com/statistics/1130383/top-bankers-for-fossil-fuel-expanding-companies-globally/
