Banking on Climate Chaos 2021 - Banking on Climate Chaos

The world’s 60 biggest banks

$3.8 trillion over 5 years

fossil fuels

climate chaos

local community impacts

In the 5 years since the Paris Agreement, the world’s 60 biggest banks have financed fossil fuels to the tune of $3.8 trillion. Runaway funding for fossil fuel extraction and infrastructure fuels climate chaos and threatens the lives and livelihoods of millions.

Line 3 Tar Sands Pipeline

Enbridge’s planned Line 3 pipeline violates Indigenous rights, threatens the Great Lakes of North America, and jeopardizes our shared climate by expanding access to dirty tar sands oil. Its bankers share in the responsibility for these impacts.

Mozambique LNG Projects

The LNG industry in Cabo Delgado is made up of major onshore and offshore projects to extract and then liquefy fossil gas for export. Hundreds of families have been relocated and poorly compensated, and yet major banks stepped up to directly fund these climate-killing projects.

Arctic Refuge

Home to hundreds of wildlife species and sacred space for the Gwich’in people, the Arctic Refuge should be a no-go zone for the oil and gas industry and fossil banks.

Matarbari Coal Projects

Three proposed coal plants in Bangladesh have already meant displacement of families and the loss of traditional livelihoods in salt cultivation and shrimp farming.

East African Crude Oil Pipeline

This proposed pipeline would travel from Uganda to Tanzania, displacing communities and enabling drilling in critical ecosystems.

EMBA Hunutlu Coal Plant

The air pollution from building another coal plant in Turkey’s Iskenderun Bay area will cause an estimated 2,000 deaths over its lifetime.

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This report adds up financing (lending, and underwriting of debt and equity issuances) from the world’s 60 biggest banks for the fossil fuel sector as a whole, as well as for top expanders of the fossil fuel industry and top companies in specific sectors.