Bank financing for the fossil fuel sector rose by $162.5 billion in 2024, more than 20% compared to 2023, according to a Rainforest Action Network report.
Fossil fuel-related financing declined in 2022 and 2023, but in 2024 almost 70% of the 65 banks analyzed increased their funding for companies involved in fossil fuels.
By John Cannon
https://news.mongabay.com/2025/06/banks-bet-big-on-fossil-fuels-boosting-financing-in-2024-report-finds/