Banks break pledges with fossil fuel billions

By Agence France-Presse

Mar 26, 2022 12:08 am

PARIS: Big banks continue to pour hundreds of billions of dollars into fossil fuel extraction, contradicting their pledges to cut the carbon emissions driving deadly climate change, a report said on Friday.

The analysis by London-based think tank InfluenceMap found the world's 30 biggest listed finance groups provided $740 billion to fossil fuel producers in 2020 and 2021, and held billions more in investments.

PRICEY An employee fills a car’s tank at a gas station in Tijuana, Baja California state, Mexico, on Thursday, March 24, 2022 (March 25 in Manila). As the United States has registered a historical surge on fuel prices amid Russia’s war on Ukraine, gas stations in Tijuana look for US consumers crossing from California, where as of Thursday, the average price for regular gas was $5.88 per gallon and $6.31 for diesel, according to the American Automobile Association. AFP PHOTO

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