Reclaim Finance
Did you still have doubts? Well now it’s confirmed. Promises are only made to believers.
Since 2015 and the adoption of the Paris Agreement, the number of banks who say they are ready to change to save the climate has grown and grown. Unfortunately, so has their financing to fossil fuels, with no less than $3.8 trillion in financing granted between 2016 and 2020.
The Oscar for hypocrisy goes to French banks, which dream of making Paris the capital of "green finance"... but in 2020 surpassed their British counterparts in the ranking of the most ecocidal banks. While international financing to gas, oil and coal fell by 9% between 2019 and 2020, French banks raised their support by a whopping 36%.
Nominated in the same category is the French government, which sabotaged the proposals of the Citizens' Climate Convention to produce a bill bordering on greenwashing.
The only positive note is the determination of the 110,000 people who mobilized in the streets of France this weekend to call on the French government to adopt a real climate law.
Lucie Pinson
Founder and Executive Director, Reclaim Finance
With RAN, we co-authored the 2021 Banking on Climate Chaos report, revealing that the world's 60 largest banks poured $3.8tn into companies active in oil, gas and coal  since 2016.
Read our report
Central banks talk a big game on climate change but don't follow through. That's the key finding of a report published by Positive Money, which analyzes the climate commitments of the G20's monetary and fiscal authorities.
Read our blogpost
Despite making commitments on climate change in recent months, our new report revealed that BlackRock has $75bn invested in top tar sands companies, financing one of the most polluting fossil fuels projects like the Line 3 pipeline.
Read our blogpost
Monthly selection
Enbridge's 'sustainable linked credit' can't paper over its complicit in financing the climate-destroying and rights-violating Line 3 pipeline.
After our report 'Pipeline of Pollution: Total responsible, finance complicit?', Total offered up an extraordinary rebuttal. We offered our own response in turn.
In a context of multiplying carbon-neutral commitments from financial institutions, we provide the low-down on the latest framework in fashion, the PAII.
HSCB is tabling a resolution to phase out financing of thermal coal mining and coal power. The bank must extend it to all coal companies, and exclude coal developers.
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