Despite investor and societal pressure, banks worldwide continue to lend money and underwrite bonds issued by oil, gas, and coal companies, with bond deals in fossil fuels arranged by banks at nearly $250 billion in 2021, Bloomberg data showed on Monday. JP Morgan financed the largest volume of loans and bonds combined so far this year, followed by Wells Fargo, Citi, RBC, and Mitsubishi UFJ, data as of December 3 compiled by Bloomberg showed.
Wells Fargo has been the biggest lender to the fossil fuel industry this year, with most of its exposure…Banks Continue To Fund Fossil Fuels Despite Climate Pledges
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