2026 Banking on climate chaos report

Reports

11 June 2026

The world’s largest banks are moving in the wrong direction, increasing their financing to the fossil fuel sector for the second year in a row, despite soaring global temperatures, and despite the ongoing war in the Middle East which has once again laid bare the economic, environmental and geopolitical risks of fossil fuel dependence.

Key findings:

US$0
billion fossil fuels in financing for fossil fuels from the world’s 65 largest banks in 2025 – an increase of $64 billion (nearly 8%) from the previous year.
  • Financing for new fossil fuel infrastructure, including LNG terminals and pipelines, surged by +84% compared to 2024.
  • US banks remain by far the biggest backers of the fossil fuel industry; JPMorgan Chase is once again the world’s largest fossil fuel financier, committing $58 billion in 2025 alone.
  • Most French bank reduced their financing for fossil fuel expansion in 2025 – with the exception of Société Générale.

Banks must immediately end all financing for fossil fuel expansion, adopt robust exclusion policies and science-based absolute emission reduction targets aligned with the 1.5°C pathway. They must also rapidly scale up financing for sustainable power supply solutions.