IMPACT PROFILE

Rainforest Action Network

Rainforest Action Network takes action against the companies and industries driving deforestation and climate change. They provide research and analysis to support and work closely with frontline communities.

RESEARCH

Rainforest Action Network released a report, Banking on Climate Change (see report), in which it named the banks doing the most fossil fuel financing, globally, since the Paris Agreement (2016-2018). Below is the list of banks.

THE TOP BANKS FINANCING THE MOST FOSSIL FUELS

1. JPMorgan Chase

2. Wells Fargo

3. Citi

4. Bank of America

5. RBC

6. Barclays

7. MUFG

8. TD

9. Scotiabank

10. Mizuho

11. Morgan Stanley

12. Goldman Sachs

MIGHTY TIP: FOSSIL FUEL FREE DEPOSITS

Some banks list on their website that they do not finance fossil fuels. Other banks don’t list this information, even though they do not finance fossil fuels. Banks focused on making small business loans and with deposits concentrated in one zip code, city or state (versus across the country) are not likely to be meaningful financiers of fossil fuels.

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READ MORE

https://www.ran.org/bankingonclimatechange2019/