Report: World's 65 largest banks provided $906bn in fossil fuel financing in 2025, up 8% from 2024
By
Oliver Milman
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Summary
A new report from a coalition of environmental groups reveals that the world's 65 largest banks committed $906 billion in financing to the fossil fuel industry in 2025, an increase of $64 billion (nearly 8%) from 2024. JPMorgan Chase remains the world's leading financier of fossil fuels. The report argues these investments are incompatible with international climate agreements aimed at restraining global temperature rises, locking in continued coal, oil, and gas production as the planet continues to warm.
Key quotes
· 3 pulledThe world's largest banks committed $906bn in financing to the fossil fuel industry last year, an 'unfathomable' increase in investment locking in years more of coal, oil and gas production as the world continues to overheat
The surge in new fossil fuel lending, up $64bn or nearly 8% on 2024, shows that the world's largest 65 banks are making decisions incompatible with international agreements to restrain rising global temperatures
JPMorgan Chase is again the world's leading financier of fossil fuels
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