Canada’s Biggest Bank Becomes The World’s Top Financier Of Fossil Fuels

JP Morgan is no longer the world’s biggest financier of fossil fuels. Last year Royal Bank of Canada (RBC) became the top bank funding oil and gas, a report by environmental groups showed this week. Fossil fuel financing from the world’s 60 largest banks hit $673 billion in 2022. These banks have funded $5.5 trillion in fossil fuels projects in the seven years since the adoption of the Paris Agreement, according to the annual Banking on Climate Chaos report by Rainforest Action Network, Oil Change International, Indigenous Environmental…