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Banks and Climate Change

It’s no secret that one of the biggest drivers of climate change is fossil fuel production and consumption. And the finance industry plays a critical role in supporting that industry.

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Financial institutions have the power to shape our energy future. As we speak, the world’s biggest banks are profiting from the very industries that put our world in peril. Between 2014 and 2016, banks poured a staggering US$290 billion into extreme fossil fuels.

RAN is pushing the banking sector to cut financing to new and existing dirty energy projects. In 2015, pressure from RAN and our allies prompted nine major U.S. and European banks to adopt broad-based commitments to reduce financing for the coal industry. Our new target: Get JPMorgan Chase out of tar sands.

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