New Report Reveals Bank Policies Fail to Respond to Climate Risks

A report released today by Rainforest Action Network, BankTrack, Sierra Club and Oil Change International, in partnership with 28 organizations around the world, reveals that the world’s biggest banks are continuing to fuel climate change through the financing of extreme fossil fuels. The report finds that 2016 actually saw a steep fall in bank funding for extreme fossil fuels — however despite this overall reduction, banks are still funding extreme fossil fuel projects at a rate that will push us beyond the 1.5 degrees climate change limit determined by the Paris Climate Agreement.