'It's time for big banks to listen to the science and stop funding climate destruction,' said Arielle Swernoff of StopMoneyPipe.
$4.6 trillion into coal, oil, and gas projects from 2016 to 2021. The four U.S. financial behemoths mentioned by Swernoff are responsible for a quarter of all fossil fuel financing identified since the Paris agreement entered into force. JPMorgan Chase alone provided more thanto coal, oil, and gas firms during the aforementioned six-year period, including $65.4 billion to the 20 corporations doing the most to ramp up the extraction of planet-heating fossil fuels.
Kathy Mulvey, director of the Climate Accountability Campaign at UCS, stressed that"as people around the world face climate-related extreme weather disasters, threats to public health, and systemic economic risk, big banks are choosing to ignore climate science by providing billions of dollars in financing to fossil fuel companies that continue to expand their production of oil and gas."
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