Significant banks around the world are still funding fossil fuel companies to the tune of trillions of dollars.A new report, published Wednesday from a collection of environment companies and titled Banking on Climate Chaos 2021, discovers 60 of the worlds largest commercial and investment banks have actually collectively put $3.8 trillion into fossil fuels from 2016 to 2020, the five after The Paris Agreement was signed. President Joe Biden rejoined The Paris Agreement on his very first day in office.The 3 banks that did the most fossil fuel financing in 2020, according to the report, were JPMorgan Chase at $51.3 billion; Citi at $48.4 billion; and Bank of America with $42.1 billion.An agent of JPMorgan Chase informed CNBC Make It that the bank could not comment on a 3rd party report. The report was a cooperation by seven non-profits: Rainforest Action Network, Bank Track, Indigenous Environmental Network, Oil Change International, Reclaim Finance, and Sierra Club.The report authors aggregate bank lending and underwriting information using Bloombergs league credit approach, meaning credit is divided in between banks playing a leading role in a provided transaction, and uses information from Bloomberg Finance L.P. and the Global Coal Exit List.Also, banks are offered the chance to weigh in on the findings.

Significant banks around the world are still funding fossil fuel companies to the tune of trillions of dollars.A new report, published Wednesday from a collection of climate organizations and titled Banking on Climate Chaos 2021, discovers 60 of the worlds largest commercial and financial investment banks have actually collectively put $3.8 trillion into fossil fuels from 2016 to 2020, the 5 after The Paris Agreement was signed. President Joe Biden rejoined The Paris Agreement on his very first day in office.The three banks that did the most fossil fuel funding in 2020, according to the report, were JPMorgan Chase at $51.3 billion; Citi at $48.4 billion; and Bank of America with $42.1 billion.An agent of JPMorgan Chase informed CNBC Make It that the bank might not comment on a third celebration report. The report was a cooperation by 7 non-profits: Rainforest Action Network, Bank Track, Indigenous Environmental Network, Oil Change International, Reclaim Finance, and Sierra Club.The report authors aggregate bank loaning and underwriting information using Bloombergs league credit approach, implying credit is divided in between banks playing a leading role in a provided deal, and utilizes information from Bloomberg Finance L.P. and the Global Coal Exit List.Also, banks are given the opportunity to weigh in on the findings.

By