This week’s sweltering heat is financed by our banks 

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  • Post last modified:23 June 2026

As the UK braces itself for the impacts of yet more extreme heat, major banks continue to plough money – nearly $1 trillion in the past year alone – into fossil fuels. This makes a mockery of their pledges to act on the climate crisis, and makes big oil even more profitable whilst communities roast, crops die, infrastructure fails, wars rage and the cost-of-living crisis bites harder. Still banking on climate chaos The UK’s second ever extreme heat warning has been issued this week, with temperatures as high as 40℃ anticipated. Around the time of the first extreme heat warning in…

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Global banks finance fossil fuel with $8.7tn since the Paris Agreement

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  • Post last modified:11 June 2026

Major banks are putting increasing amounts of money into fossil fuel. 2025 saw nearly $1tn of investment in fossil fuel companies, even as energy instability is deepening the global cost-of-living crisis. The 17th edition of the Banking on Climate Chaos (BOCC) report finds that the world’s 65 largest banks committed $906bn to fossil fuel companies in 2025. This was an increase of 8% from the previous year. Since the Paris Agreement a decade ago, these banks have channelled $8.7tn into oil, gas, and coal operations. The report is the world’s most comprehensive open-source dataset on fossil fuel financing by commercial banks.…

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