May 14, 12:10 PM

Banks Provide $7 Trillion, $705 Billion in 2023, to Fossil Fuel Industry Since Paris Accord

Major banks worldwide have provided nearly $7 trillion in financing to the fossil fuel industry since the Paris climate accord, with $705 billion in 2023 alone. The increase in financing was largely driven by investments in the LNG sector. Despite net-zero commitments, banks continue to invest heavily in fossil fuels, as highlighted in the Banking on Climate Chaos report.

#Paris #Banking on Climate Chaos

Written with ChatGPT (GPT-3).