Banking on Climate Chaos 2021 - Banking on Climate Chaos

The world’s 60 biggest banks

$3.8 trillion over 5 years

fossil fuels

climate chaos

local community impacts

In the 5 years since the Paris Agreement, the world’s 60 biggest banks have financed fossil fuels to the tune of $3.8 trillion. Runaway funding for fossil fuel extraction and infrastructure fuels climate chaos and threatens the lives and livelihoods of millions.

Line 3 Tar Sands Pipeline

Enbridge’s planned Line 3 pipeline violates Indigenous rights, threatens the Great Lakes of North America, and jeopardizes our shared climate by expanding access to dirty tar sands oil. Its bankers share in the responsibility for these impacts.

Mozambique LNG Projects

The LNG industry in Cabo Delgado is made up of major onshore and offshore projects to extract and then liquefy fossil gas for export. Hundreds of families have been relocated and poorly compensated, and yet major banks stepped up to directly fund these climate-killing projects.

Arctic Refuge

Home to hundreds of wildlife species and sacred space for the Gwich’in people, the Arctic Refuge should be a no-go zone for the oil and gas industry and fossil banks.

Matarbari Coal Projects

Three proposed coal plants in Bangladesh have already meant displacement of families and the loss of traditional livelihoods in salt cultivation and shrimp farming.

East African Crude Oil Pipeline

This proposed pipeline would travel from Uganda to Tanzania, displacing communities and enabling drilling in critical ecosystems.

EMBA Hunutlu Coal Plant

The air pollution from building another coal plant in Turkey’s Iskenderun Bay area will cause an estimated 2,000 deaths over its lifetime.

Nigeria LNG

Nigeria LNG faces continued protests from local communities due to its harmful impacts, and yet big banks stepped up to fund the project.

Mining in the Hasdeo Arand Forest

Even with a recent victory, the threat of coal mining development still looms in Hasdeo Arand, one of the largest intact forests in Central India.

Fracking in Vaca Muerta

Fracking in the virtually untapped “carbon bomb” of Vaca Muerta threatens the rights of Indigenous Mapuche communities in Argentina’s Patagonia region.

Barents Sea

Equinor and its bankers are looking to drill in the Barents Sea offshore Norway and Russia, home to walruses, narwhals, and beluga whales.

Offshore Cape Three Points

This oil and gas project off the coast of Ghana means declining fish catch and higher food prices for local communities.

Mountain Valley Pipeline

Banks should drop their support for the MVP fracked gas project, which would result in greenhouse gas emissions equal to building 37 new coal plants.

Carmichael Coal Mine

The Wangan and Jagalingou people haven’t consented to the Carmichael mine, which would drive build-out of coal ports along Australia’s Great Barrier Reef coast.

Coastal GasLink Pipeline

The Wet’suwet’en in British Columbia have faced militarized police raids in opposing this project on their lands, and yet banks funded its construction this year.

Jawa 9 and 10 Coal Plant

This planned coal plant would be built in an area in Indonesia where the community already faces horrendous air pollution and associated respiratory and skin diseases.

Energía Costa Azul LNG

Given fierce community opposition to fracked gas export infrastructure on the West Coast of the U.S. and Canada, industry is eyeing Mexico as an alternative.

Adaro Energy

Adaro is a major mining company in Indonesia, where flooding that caused mass displacement may be linked to nearby mining activities.

Fires Around the World

Massive fires hit local communities around the world in 2020, and the top bankers of fossil fuels share in the responsibility for these impacts.

2021-Banking-on-Climate-Chaos-slider-bottom_02

Sort By:

View detailed policy scores for these banks and more

This report adds up financing (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 top expanders of the fossil fuel industry and top companies in specific sectors.