Published On: January 22nd, 2021

Banking on climate change by the Rainforest Action Network (RAN)

The latest report, “Banking on Climate Change 2020 “, has been released by Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, and the Sierra Club, and endorsed by over 250 organizations from 45 countries around the world, and it adds up lending and underwriting to 2,100 companies across the coal, oil and gas sectors globally over the period 2016-2019.

The report includes data (also downloadable in .xlsx format) about fossil fuel financing for 35 major global banks since the year the Paris Agreement was adopted, 2015. It tracks banks’ funding about fossil fuel in general, its expansion, as well as about seven major sectors of the industry (tar sands, arctic, offshore, fracked, LNG, coal mining, and coal power). In addition to tracking banks’ fossil fuel financing practices, the report also scores banks’ future-facing policies on fossil fuels.