Banks have given almost $7tn to fossil fuel firms since Paris deal, report reveals
Among world’s top 60 banks those in US are biggest fossil fuel financiers, while Barclays leads way in Europe
The world’s big banks have handed nearly $7tn (£5.6tn) in funding to the fossil fuel industry since the Paris agreement to limit carbon emissions, according to research.
In 2016, after talks in Paris, 196 countries signed an agreement to limit global heating as a result of carbon emissions to at most 2C above preindustrial levels, with an ideal limit of 1.5C to prevent the worst impacts of a drastically changed climate.
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