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In 2024, banks reversed climate pledges, channeling €750 billion into fossil fuel companies—marking the first financing increase since 2021. The Banking on Climate Chaos report shows global banks have poured €6.9 trillion into fossil fuels since the Paris Agreement. Authors blame a pattern of “distract, delay, deflect, and defect,” as lenders prioritize profits over climate goals, intensifying risks to financial stability and efforts to limit warming to 1.5°C.
Monday, 16 June, 2025
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