The world’s biggest banks raised their combined financing for fossil fuels by more than one-fifth last year, bucking a falling trend since 2021 amid a backlash against net-zero policies, especially in the United States. The world’s top 65 banks increased fossil fuel funding to $869 billion in 2024, up by $162 billion from 2023, according to the 16th annual Banking on Climate Chaos (BOCC) report released by climate campaign organizations on Tuesday. Last year, loans were the top form of financing, rising to $467 billion…
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