Fossil Fuel Financing Surged To $906 Billion In 2025
Causing decades more of earth-warming carbon emissions, last year, the 65 largest banks heavily expanded their fossil fuel financing, committing $906 billion to industry companies — totalling $65 billion more than in 2024, according to a new report.
Released today, the 2026 “Banking on Climate Chaos Report,” published annually by the Rainforest Action Network and its partner organizations, analyzes global banks’ fossil fuel financing data.
For the third year in a row, JPMorgan Chase topped the rankings, the report says, committing $58.2 billion to fossil fuel companies, which marked a 12.6 percent increase from 2024.