Banks should not finance environmental destruction

Updated 2024

Banks are massively financing fossil fuels. 

With the help of corrupt governments and fossil fuel industries, banks are massively financing fossil fuels at the expense of cheaper and less polluting sustainable energy.  

Fossil fuels are already massively subsidized. See Cost of Fossil Fuel Subsidies

We are already paying a big price for environmental destruction. See Cost of Environmental Destruction

Time is short (See Climate Change is Real and Dangerous), but we can make the necessary changes. (See We can power with renewable energy right now) Banks should be financing a prosperous instead of destructive future.

One good organization which keeps track of bank's harmful contribution to fossil fuels is BankTrack

For articles like this covering different areas on the environment with over 2,500 references see



1-Just 7% of global banks' energy financing goes to renewables, new data shows

2-Banks, climate change and the environmental crisis

3-Ethical Banking: What Is a Socially Responsible Bank?

4-These are the world’s largest banks that are increasing and decreasing their fossil fuel financing

5-Why your banking habits matter for the climate

6-Big Banks Shouldn't Underwrite Environmental Ruin

7-Banks have underwritten $2.7 trillion of fossil fuel bonds.

8-Europe’s biggest banks provide £24bn to oil and gas firms despite net zero pledges - Investments to drill new oil wells and tap gas reserves were made within a year of signing up

9-Big banks fund new oil and gas despite net zero pledges

10-At least $132 billion in finance for fossil fuels is locking Africa out of a Just Transition, shows new report - African countries kept in fossil fuel stranglehold by overseas money

11-New research puts big banks’ sustainability claims in doubt

13-Commerzbank, Citi and Bank of America among banks issuing new deal for Russian coal giant SUEK just two months before COP26 - Russia's largest coal producer SUEK plans to expand its coal mining and has mandated nine banks for a bond issuance

14-Fossil fuel industry gets subsidies of $11m a minute, IMF finds-Trillions of dollars a year are ‘adding fuel to the fire’ of the climate crisis, experts say

15-Oily Wells Fargo Funds Dirty Fossil Fuels (YouTube)

16-Banks Funneled $1.9 Trillion Into Fossil Fuels Since Paris Agreement

17-Australia's biggest banks pump billions into fossil fuels despite climate pledges | Environment | The Guardian

18-Berta Cáceres: new rules for banks could help stop defender killings

19-Banking on bailouts - Sizing the global costs when the fossil fuel bubble bursts

20-HSBC announces it will no longer finance new oil and gas fields - ShareAction response: this announcement sends a strong signal to fossil fuel giants and governments that banks’ appetite for financing new oil and gas fields is diminishing

21-Rabobank called on to stop billions of dollars in finance to polluting industrial meat and dairy companies

22-Throwing fuel on the fire: GFANZ members provide billions in finance for fossil fuel expansion

23-She exposed the multibillion greenwashing scandal of Deutsche Bank

24-What COP15 means for banks: meeting the Global Biodiversity Framework requires protecting Indigenous rights and divesting from harmful industries







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published this page in Blog 2023-01-29 14:03:49 -0800