This story was originally published by the Guardian and is reproduced here as part of the Climate Desk collaboration. The world’s big banks have handed nearly $7 trillion in funding to the fossil fuel industry since the Paris agreement on carbon emissions, according to research. In 2016, after talks in Paris, 196 countries signed an agreement to limit global heating as a result of carbon emissions to at most 2°C above preindustrial levels, with an ideal limit of 1.5°C to prevent the worst impacts of a drastically changed climate. Many countries have since promised to reduce carbon emissions, but the latest research shows private interests continued to funnel money to oil, gas, and coal companies, which have used it to expand their operations. JP Morgan Chase provided the most of any single bank in the world, $40.8 billion.
Comment on Report: Since Paris, Banks Have Channeled $6.9 Trillion to Fossil Fuel Firms
Damien Gayle, Mother Jones
Tue, 05/14/2024 - 3:00am
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more