World’s largest banks pledged $906bn to fossil fuel companies in ‘unfathomable’ increase in 2025, report finds
A new report reveals that the world's 65 largest banks increased their fossil fuel financing to $906 billion in 2025. JPMorgan Chase remains the top financier, drawing criticism from environmental groups for undermining climate goals.
Why it matters
Continued large-scale investment in fossil fuels by major financial institutions poses a significant barrier to global efforts to limit temperature increases.
Climate activists protesting against Chase bank's support of Total Energies' East African Crude Oil Pipeline (EACOP) rally at JPMorgan Chase headquarters in Manhattan on 29 May 2026. Photograph: Gina M Randazzo/ZUMA Press Wire/Shutterstock View image in fullscreen Climate activists protesting against Chase bank's support of Total Energies' East African Crude Oil Pipeline (EACOP) rally at JPMorgan Chase headquarters in Manhattan on 29 May 2026. Photograph: Gina M Randazzo/ZUMA Press Wire/Shutterstock Fossil fuels World’s largest banks pledged $906bn to fossil fuel companies in ‘unfathomable’ increase in 2025, report finds JPMorgan Chase leads 65 banks making decisions incompatible with restraining rising temperatures, researchers say
The framing focuses on the 'unfathomable' nature of the increase and highlights the incompatibility of these investments with climate agreements.
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