Report: Banks Pour $906 Billion Into Fossil Fuels

Report: Banks Pour $906B906 Billion Into Fossil Fuels, Up 8% in 2025

Published JUN 9

Report: Banks Pour $906 Billion Into Fossil Fuels

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Above: A man stands next to Pemex pumpjacks in Veracruz state, Mexico on April 10. Image credit: Marco Antonio Martinez/AFP/Getty Images

The Spin

Banks pumping $906 billion into fossil fuels in 2025 — an 8% jump from 2024 — are actively sabotaging the Paris Agreement and locking in decades of carbon emissions. JPMorgan Chase alone funneled $58 billion to fossil fuel companies as wars in Ukraine and the Middle East proved fossil fuel dependence creates instability, not security. Binding financial regulations are the only path forward.

Rainforest Action Network

Banks financing fossil fuels are responding to real global energy demand. All the banks named remain committed to sustainable finance alongside traditional energy, even as renewables remain uncertain investments. Cutting off fossil fuel financing before viable alternatives scale up would devastate energy affordability for households globally and induce economic precarity.

S&P Global Financial Times

ThereThe alarmism around "financing climate change" is athankfully 50%beginning chanceto thatshift. fossilThe fuelsoverly willrestrictive makerhetoric upabout lesslooming than"climate 50%catastrophe" ofis globalpivoting primarytowards more nuanced views that balance economic growth and energy consumptionsecurity. byThere 2050,has accordingbeen a pivot away from a faulty illusion of a green economy to thea Metaculusmore predictionrealistic communityand prosperous vision.

Los Angeles Times

Metaculus Prediction

There is a 50% chance that fossil fuels will make up less than 50% of global primary energy consumption by 2050, according to the Metaculus prediction community.