Cumulative financing of fossil fuel industry by banks worldwide 2016-2018

JPMorgan Chase financed the global fossil fuel sector to the tune of 195.66 billion U.S. dollars between 2016 and 2018. Other well-known banks such as Wells Fargo, Citi, Bank of America, and RBC followed closely behind with each one managing to lend or underwrite a total sum exceeding 100 billion U.S. dollars to fossil fuel companies in the period since the Paris Agreement was signed in 2016.

Cumulative financing of fossil fuel industry by selected banks worldwide from 2016 to 2018

Amount in billion U.S. dollars
JPMorgan Chase195.66
Wells Fargo151.6
Citi129.49
Bank of America106.69
RBC100.54
Barclays85.18
MUFG80.04
TD74.15
Scotiabank69.57
Mizuho67.71
Morgan Stanley66.93
Goldman Sachs59.26
HSBC57.81
Credit Suisse57.42
Bank of Montreal56.58
Bank of China55.5
Deutsche Bank53.94
BNP Paribas50.97
ICBC48.01
China Construction Bank39.53
SMBC Group38.1
CIBC37.37
Societe Generale36.47
Credit Agricole32.16
UBS25.84
ING25.55
Agricultural Bank of China25.07
BPCE/Natixis20.83
Unicredit17.06
Standard Chartered15.24
Santander14.97
BBVA12.08
RBS4.37
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Source

Release date

March 2019

Region

Worldwide

Survey time period

2016 to 2018

Supplementary notes

Bank financing for over 1,800 companies active across the fossil fuel cycle were analyzed by the source.

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