‘Alarming’ Report Shows $1.9 Trillion in New Fossil Investment Since Paris Accord – The Energy Mix
“Alarmingly, these findings reveal that the business practices of the
world’s major banks continue to be aligned with climate disaster and
stand in sharp contrast to the recent IPCC special report
on global warming,” the organizations state in a release. Of the $1.9
trillion in total investment from 33 global banks, “$600 billion went to
100 companies that are most aggressively expanding fossil fuels,”
despite the IPCC pointing to $2.4 trillion in annual clean energy
investment needs through 2035.