JPMorgan Chase was named the biggest fossil fuel financier in the world, having increased its financing from $38.9bn in 2022 to $40.8bn in 2023.
It ranked among the worst banks in terms of financing to companies involved in fossil fuel expansion. It was also one of the biggest financiers of: racked oil and gas; Amazon oil and gas; and methane gas power.
Barclays was labelled the number one fossil fuel funder in Europe, lending $24.5bn in 2023 up from $16.58bn in 2022.
It was singled out for financing what the report describes as ‘deadly’ coal power plants in the United States, despite high profile climate commitments.
That’s why you study who is on the board of your credit union and vote them out come election time if they do that. Most people do not take an active interest in doing that with their credit union though.