World’s largest banks pledged $906bn to fossil fuel companies in ‘unfathomable’ increase in 2025, report finds

JPMorgan Chase leads 65 banks making decisions incompatible with restraining rising temperatures, researchers say The world’s largest banks committed $906bn in financing to the fossil fuel industry last year, an “unfathomable” increase in investment locking in years more of coal, oil and gas production as the world continues to overheat, a new report has found. The surge in new fossil fuel lending, up $64bn or nearly 8% on 2024, shows that the world’s largest 65 banks are making decisions inc...

By Oliver Milman