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Bank funding for fossil fuels goes up
Apr 03: The climate change lobby seems to be on the back foot these days
8Bank funding of the fossil fuel industry went down in 2016 but has seen a spike in 2017.
8The single biggest driver of the overall increase came from the tar sands sector, where financing grew by 111 percent from 2016 to 2017. Tar sands financing totaled $98 billion
8Financing for ultra-deepwater oil totaled $52 billion
8Banks financed $45 billion for LNG activities of companies involved with enormous LNG export terminals
8After dropping post-Paris Agreement, coal mining financing has leveled off globally.
8But outside of China, coal mining financing more than doubled over the past year.
8The policy assessment shows that no bank has yet truly aligned its business plan with the Paris Climate Agreement
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