Banks Expand Fossil Fuel Financing

The world’s largest banks increased their financing for fossil fuel expansion in 2025, including oil and gas transport, liquefied natural gas, coal, and related infrastructure.

Analyses from Rainforest Action Network and the Center for International Environmental Law also link major lenders to substantial petrochemical financing as several banks weakened or dropped voluntary decarbonization commitments. The pattern raises concerns about long-term emissions lock-in and the effectiveness of voluntary climate pledges in financial markets.