Banking on Climate Chaos 2024 - Banking on Climate Chaos

The world’s 60 biggest banks committed

$6,900,000,000,000

over 8 years to the fossil fuel industry, driving climate chaos & causing deadly local community impacts.

Global Impact

Stories from the Frontlines

Climate change hits the frontlines first and worst. People living on the frontlines of climate chaos and the fossil fuel industry are predominantly Indigenous Peoples, Black and Brown communities, low-wage workers, women, fishers or smallholder farmers, often living in poverty. The featured frontline stories highlight people opposing fossil fuels in their communities, showing the world how to rise to the challenge of this moment.

Click the points to explore more frontline stories

Data Overview

This report adds up financial commitments – lending and underwriting of debt and equity issuances – from the world’s 60 biggest banks for the fossil fuel sector as a whole, as well as for companies expanding fossil fuels and companies active in specific sectors. Data derived in part from Bloomberg LP.

Explore By:
Year & Sector Bank or Client Bank Policies

Financers

For the Top 20 Upstream Oil and Gas Expanders

The Global Oil & Gas Exit List shows that upstream oil and gas expansion is remarkably concentrated: the top 20 companies are responsible for more than half of resources under development. Bank support for those companies is also remarkably concentrated: the top 10 bankers of those top companies are responsible for 56% of the companies’ big-bank financing since Paris. Banks need to cut off the flow of financing to any company expanding fossil fuels, and these top upstream expanders are a key litmus test.

The graph highlights the global top 20 upstream oil and gas companies with biggest short-term expansion plans as of September 2023 and the financing they received by their 10 top financiers in BOCC report scope. *Reported at the parent company level. Out of the top 20 expanders, only 18 received financing. Data derived in part from Bloomberg LP.

Financing

By Year & Sector

Use the drop-down menu to explore the patterns in bank financing for fossil fuels over time and by sector. Click on any colored label on the x-axis to show or hide that data. Data derived in part from Bloomberg LP.

View details by sector

Total Fossil Fuel Financing

Financing across all sectors, adjusted for the proportion of business each company does in fossil fuels.

Expansion

Bank financing for 874 oil, gas, and coal companies expanding fossil fuels in 2023, based on research by Urgewald for the Global Oil & Gas Exit List 2023 and the Global Coal Exit List 2023. See methodology document download for full scope and source.

Tar Sands Oil

Bank financing for tar sands production companies in 2023, based on research by Urgewald for the Global Oil & Gas Exit List 2023. Bank financing is adjusted for the percentage of each company’s fossil fuel production that is in tar sands oil according to the GOGEL.

Arctic Oil and Gas

Bank financing for 44 Arctic production companies in 2023, based on research by Urgewald for the Global Oil & Gas Exit List 2023. Bank financing is adjusted for the percentage of each company’s fossil fuel production that is in Arctic oil & gas.

Amazon Oil and Gas

Bank financing for 24 companies with direct involvement in oil and gas extraction in the Amazon biome in 2023, based on research by Stand.earth Research Group.

Ultra Deepwater Oil & Gas

Bank financing for 65 companies with ultra deepwater oil & gas activity, based on research by Urgewald for the Global Oil & Gas Exit List 2023. Bank financing is adjusted for the percentage of each company’s fossil fuel production that is in ultra deepwater oil & gas.

Fracked Oil and Gas

Bank financing for 238 companies with fracking activity, based on research by Urgewald for the Global Oil & Gas Exit List 2023. Bank financing is adjusted for the percentage of each company’s fossil fuel production that is in fracking.

Liquefied Methane Gas (LNG) Expansion

Bank financing for 130 liquefied methane gas companies in 2023, based on research by Urgewald for the Global Oil & Gas Exit List 2023. This table summarizes all financing to companies with expansion plans for liquefaction and regasification terminals listed on the GOGEL. Note that additional companies with current operations but no expansion plans are also included in the all fossil fuels league table, but not included in this expansion ranking.

Thermal Coal Mining

Bank financing for 212 thermal coal mining companies in 2023, based on research by Urgewald for the Global Coal Exit List 2023. Bank financing is adjusted for each company’s proportion of business done in coal

Metallurgical Coal

Bank financing for 68 companies with metallurgical coal business in 2023. Financing is adjusted to account for companies’ percentage of business activities in the metallurgical coal sector.

Coal Power

Bank financing for 458 coal power companies in 2023, based on research by Urgewald for the Global Coal Exit List 2023 (GCEL). Bank financing is adjusted for each company’s proportion of business done in coal power.

Gas-Fired Power Expansion

Bank financing for 253 gas-fired power companies in 2023, based on research by Urgewald for the Global Oil & Gas Exit List 2023. Bank financing is adjusted for each company’s proportion of business done in gas power.

Bank & Client Profiles

Use the drop-down menu to explore detailed data by bank or by fossil fuel company.

These figures add up financing where a given bank plays a financial leading role in a transaction with a given fossil fuel company, and are scaled by the fossil fuel intensity of that company. Data derived in part from Bloomberg LP.

View by Bank

View by Client

View by Parent