Banks pouring trillions to fossil fuel expansion in global south, report finds

Since the 2015 Paris Climate Agreement banks have provided some $3.2tn to the fossil fuel industry to expand operations

Banks are pouring trillions of dollars into the expansion of the world’s most emitting industries in the global south, according to a new report.

Developing countries are often on the frontlines of the climate crisis yet lack the resources to enact climate action plans. As such, they require trillions of dollars in aid to decarbonize their economies and adapt to a warming world.