Banks boost fossil fuel financing for the first time since 2021
June 17, 2025
(Oil Price) – The world’s biggest banks raised their combined financing for fossil fuels by more than one-fifth last year, bucking a falling trend since 2021 amid a backlash against net-zero policies, especially in the United States. The world’s top 65 banks increased fossil fuel funding to $869 billion in 2024, up by $162 billion from 2023, according to the 16th
