This report analyzes fossil fuel financing by the top 60 commercial and investment banks from around the world. It tracks these banks’ lending and underwriting of debt to the 100 largest fossil fuel companies in the world. It was published on March 24, 2021 and has been collectively written by major climate action groups Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, and Sierra Club. The report revealed that between 2016-2020 leading banks like JPMorgan Chase, Citi, Barclays provided financial services adding up to $3.8 trillion on projects on expanding the use of fossil fuels. The report emphasized the need for immediate action like ending financing for all new fossil fuel projects and an interim target to half the current fossil fuel financing by 2030. It is noted that without these direct measures the UN IPCC’s warning for impending catastrophe caused by breaching of the 1.5°C of global warming threshold is inevitable. This 157-page document is majorly categorized into 6 chapters: Introduction (Chapter 1); Fossil fuel expansion (Chapter 2); Spotlight fossil fuels – tar sands oil, artic oil & gas, offshore oil & gas, fracked oil & gas, liquified natural gas, coal mining, coal power (Chapter 3); Financed emissions and the road to Glasgow (Chapter 4); Human rights (Chapter 5); Conclusions and Demands (Chapter 6).
Authors
Rainforest Action Network, Banktrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, And Sierra Club
Organizations mentioned
- Pages
- 80
- Published in
- India
- Rights
- Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, and Sierra Club
Table of Contents
- TABLE OF CONTENTS 2
- EXECUTIVE SUMMARY 3
- INTRODUCTION 4
- LEAGUE TABLE - 7
- LEAGUE TABLE - 8
- THE DIRTY DOZEN 9
- KEY FINDINGS 9
- REGIONAL TRENDS 10
- POLICY SCORES 11
- HALL OF SHAME 12
- POLICY SCORES SUMMARY 13
- METHODOLOGY 16
- CASE STUDY 18
- FIRES 18
- FOSSIL FUEL EXPANSION 19
- BIG OIL REALITY CHECK 19
- LEAGUE TABLE - 20
- LEAGUE TABLE - 21
- POLICY SCORES - 22
- CASE STUDY 23
- SPOTLIGHT FOSSIL FUELS 24
- TAR SANDS OIL 25
- TAR SANDS OIL 25
- LEAGUE TABLE - 26
- POLICY SCORES - 27
- CASE STUDY 28
- ARCTIC OIL GAS 29
- ARCTIC OIL GAS 29
- LEAGUE TABLE - 30
- POLICY SCORES - 31
- CASE STUDY 32
- OFFSHORE OIL GAS 33
- OFFSHORE OIL GAS 33
- LEAGUE TABLE - 34
- POLICY SCORES - 35
- CASE STUDY 36
- FRACKED OIL GAS 37
- FRACKED OIL GAS 37
- LEAGUE TABLE - 38
- POLICY SCORES - 39
- CASE STUDY 40
- CASE STUDY 41
- LNG 42
- LEAGUE TABLE - 43
- POLICY SCORES - 44
- CASE STUDY 45
- COAL MINING 46
- COAL MINING 46
- LEAGUE TABLE - 47
- POLICY SCORES - 48
- CASE STUDY 49
- CASE STUDY 50
- COAL POWER 51
- COAL POWER 51
- LEAGUE TABLE - 52
- POLICY SCORES - 53
- CASE STUDY 54
- FINANCED EMISSIONS 55
- POLICY ASSESSMENT - 57
- HUMAN RIGHTS 60
- CONCLUSION AND DEMANDS 62
- APPENDICES 63
- ENDNOTES 75
- ENDNOTES 76
- ENDNOTES 77
- ENDORSEMENTS 78
- ENDORSEMENTS 79
- ACKNOWLEDGEMENTS 79
