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Largest global banks provide $637bn to finance fossil-fuel industry
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fnlondon.comThe world’s biggest banks continued to channel billions of dollars into boosting fossil-fuel production capacity in 2022 despite growing calls to scale back lending in response to global warming, finds a new report.
The annual Banking on Climate Chaos report, authored by a group of nonprofits, including Rainforest Action Network, said banks provided $673bn in finance to the fossil-fuel industry last year. Canadian banks are providing a rising share of the money, though US lenders are still the dominant player.
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