Megabanks have committed $6.9 trillion to fossil fuels since 2016 – with almost half to new oil, gas, and coal
What if you found out the money in your bank account was being used to fuel fires and floods, leading to contaminated water from fracking or coal mining, or air pollution where you live?
Bank Regulators Step Up
On October 24, 2023, a trio of federal agencies issued two actions aimed at pushing the nation’s banks – especially the largest banks – to invest in underserved communities and factor climate risk into their decisions.
Big banks Are Driving Climate Chaos – But Your banking can support people and planet
The world’s 60 largest banks have plowed $5.5 trillion into fossil-fuel financing, including expansion projects, tar sands oil, Arctic and Amazon oil and gas, offshore drilling, fracking, liquified natural gas, and coal mining.
Two threats from big banks: Lobbying for deregulation, financing the climate crisis
Of all the banks in the world, mega-banks Chase, Citi, Wells Fargo, and Bank of America are the biggest funders of fossil fuel infrastructure.