Bankrolling Fossil Fuel Expansion

Stockholm (NordSIP) – The latest issue of BankTrack’s annual Banking on Climate Chaos report is out. The comprehensive analysis examines commercial and investment bank financing for the fossil fuel industry, aggregating their leading roles in lending and underwriting debt and equity issuances. This year’s edition, the fourteenth in a row, makes for a depressing reading. The report points to continued bank support for companies actively expanding in fossil fuels, highlighting several key sectors: tar sands oil, Arctic oil and gas, Amazon oil and gas, offshore oil and gas, fracked oil and gas, LNG, coal mining, and coal-fired power.

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