Banks Are Financing the Fossil Fuel Industry’s Next Growth Strategy
A June analysis found the world’s top 65 banks supplied $508 billion to fossil fuel expansion in 2025, while petrochemical lending also climbed.
- An analysis from the Rainforest Action Network, or RAN, found that 65 major global banks contributed $508 billion to fossil fuel expansion in 2025, representing a 27 percent increase since 2024.
- During the leadup to President Donald Trump's second inauguration, all six of the nation's largest banks abandoned the Net-Zero Banking Alliance, precipitating the coalition's shutdown in October 2025.
- The Center for International Environmental Law, or CIEL, found that big banks provided at least $591 billion to top petrochemical companies between January 2019 and June 2025, with $252 billion directly attributable to petrochemical activities.
- Fredric Bauer, a lecturer at Lund University, suggests that banks are funding this sector to "ensure long-term markets for oil and gas," offsetting declining demand in traditional energy systems.
- Advocacy groups are pushing for regulation as 127 new polyethylene projects prepare to launch by 2030, pointing to the industry's 1.9 billion metric tons of annual greenhouse gas emissions recorded as of 2020.
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Banks are financing the fossil fuel industry’s next growth strategy - The Mexico Ledger
Banks are financing the fossil fuel industry’s next growth strategyFor the past two years, more than a dozen major banks have been not only reneging on their climate commitments, they’ve been actively making the crisis worse, Grist reports.In 2024 and 2025, during the leadup to President Donald Trump’s second inauguration, all six of the nation’s largest banks abandoned the Net-Zero Banking Alliance, a voluntary climate coalition, precipitating …
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Banks are financing the fossil fuel industry’s next growth strategyFor the past two years, more than a dozen major banks have been not only reneging on their climate commitments, they’ve been actively making the crisis worse, Grist reports.In 2024 and 2025, during the leadup to President Donald Trump’s second inauguration, all six of the nation’s largest banks abandoned the Net-Zero Banking Alliance, a voluntary climate coalition, precipitating …
InsideNoVA.com
Banks are financing the fossil fuel industry’s next growth strategy
Grist reports that major banks are increasing financing for fossil fuels, undermining climate commitments and supporting the petrochemical industry's growth strategy.
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