Research

The 16th annual Banking on Climate Chaos (BOCC) report covers the world’s top 65 banks’ lending and underwriting to over 2,700 fossil fuel companies. While the world’s top scientists from the International Energy Agency (IEA) repeatedly state that there is no need for a single new oil field, tanker, pipeline, or any fossil fuel expansion whatsoever, banks ignore climate risk and increase finance for dirty energy companies expanding their sector. This is amidst a rapid retreat from climate commitments many of these banks made at COP26 in Glasgow in 2021.

The 15th annual Banking on Climate Chaos (BOCC) report employs a new, expanded data set that credits each bank making financial contributions to a deal instead of only crediting banks in leading roles. It cuts through greenwash, covering the world’s top 60 banks’ lending and underwriting to over 4,200 fossil fuel companies and the financing of companies causing the degradation of the Amazon and Arctic.

This report, Banking on Climate Chaos 2023, analyzes fossil fuel financing and policies from the world’s 60 largest commercial and investment banks. We reveal that fossil fuel financing from the world’s 60 largest banks has reached nearly USD $5.5 trillion in the seven years since the adoption of the Paris Agreement, with $673 billion in 2022 alone.

This report, Banking on Climate Chaos 2022, analyzes fossil fuel financing and policies from the world’s 60 largest commercial and investment banks. We reveal that fossil fuel financing from the world’s 60 largest banks has reached nearly USD $4.6 trillion in the six years since the adoption of the Paris Agreement, with $742 billion in 2021 alone.