{"id":29766,"date":"2023-04-13T16:18:43","date_gmt":"2023-04-13T14:18:43","guid":{"rendered":"https:\/\/reclaimfinance.org\/site\/?p=29766"},"modified":"2023-11-27T19:05:26","modified_gmt":"2023-11-27T18:05:26","slug":"report-banking-on-climate-chaos","status":"publish","type":"post","link":"https:\/\/reclaimfinance.org\/site\/en\/2023\/04\/13\/report-banking-on-climate-chaos\/","title":{"rendered":"Report: Banking on Climate Chaos"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\" style=\"--awb-content-alignment:justify;--awb-text-color:var(--awb-color4);\"><p><strong>Fossil fuel financing from the world\u2019s 60 largest banks has reached USD $5.5 trillion in the seven years since the adoption of the Paris Agreement, with $673 billion in fossil fuel financing in 2022 alone. This report examines commercial and investment bank financing for the fossil fuel industry, aggregating their leading roles in lending and underwriting debt and equity issuances. Fossil fuel financing plateaued in 2020, rebounded in 2021, and <\/strong><strong>leveled out again in 2022 owing to unusual geopolitical and economic conditions, not shifts in bank policy.<\/strong><\/p>\n<\/div><div class=\"fusion-text fusion-text-2\" style=\"--awb-content-alignment:justify;\"><p>Of the 60 banks that are profiled in this report, 59 do not have policies robust enough to meet the goal of keeping global warming below 1.5\u00b0C. Some banks strengthened their policies, but few are sufficient to meet the challenge of the moment.<\/p>\n<\/div><div style=\"text-align:center;\"><a class=\"fusion-button button-flat button-medium button-custom fusion-button-default button-1 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_border_color:var(--awb-color4);--button_accent_hover_color:#ffffff;--button_border_hover_color:#8fc84c;--button_border_width-top:2px;--button_border_width-right:2px;--button_border_width-bottom:2px;--button_border_width-left:2px;--button_gradient_top_color:rgba(138,197,107,0);--button_gradient_bottom_color:rgba(138,197,107,0);--button_gradient_top_color_hover:#8fc84c;--button_gradient_bottom_color_hover:#8fc84c;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2023\/04\/2023.04.13_Report_Banking-On-Climate-Chaos-2023.pdf\"><span class=\"fusion-button-text\">Read the report<\/span><\/a><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":26,"featured_media":29763,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[224],"tags":[],"acteurs_financiers":[2442],"thematique":[2421,2423,2419],"webinar_type":[],"programme":[],"class_list":["post-29766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-report","acteurs_financiers-banks","thematique-coal","thematique-fossil-fuels","thematique-oil-and-gas-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Report: Banking on Climate Chaos - Reclaim Finance<\/title>\n<meta name=\"description\" content=\"This report examines commercial and investment bank financing for the fossil fuel industry.\" \/>\n<meta name=\"robots\" content=\"index, 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