{"id":385335,"date":"2025-06-27T08:31:30","date_gmt":"2025-06-27T06:31:30","guid":{"rendered":"https:\/\/climatescience.press\/?p=385335"},"modified":"2025-06-27T08:31:32","modified_gmt":"2025-06-27T06:31:32","slug":"global-banks-retreat-from-trying-to-change-the-climate-and-pour-900-billion-into-fossil-fuels","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=385335","title":{"rendered":"Global Banks retreat from trying to change the climate and pour $900 billion into fossil fuels"},"content":{"rendered":"
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\"\"<\/figure>\n<\/div>\n\n\n

<\/p>\n\n\n\n

From JoNova<\/a><\/p>\n\n\n\n

By Jo Nova<\/strong><\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

So much for banks saving the Planet\u2026<\/h3>\n\n\n\n

Elections do have consequences. (Thank goodness). After\u00a019 Republican States hounded the banker cartels<\/a>\u00a0to behave,\u00a0and Donald Trump won<\/a>, the bankers quietly fled from the Net Zero banker clubs. They had been using our pension funds to bully companies and countries. They were playing Kingmakers \u2014 punishing law abiding companies and thus forcing their own weather-changing energy policies on democracies (despite what the voters chose). In a triple whammy, they were forcing electricity bills up, sending industries and jobs to China, and also screwing the would-be-pensioners by not investing their money in the best investments. But the bankers were earning favors from China, and profiting from renewables investments, ESG funds, and their ability to push markets around.<\/p>\n\n\n\n

Getting the bankers out of GFANZ was not just symbolic victory for The People over The Blob. The numbers show sixty-five of the world\u2019s largest banks put $869 billion in funding to gas, oil and coal companies last year. It was an increase of 23% from the year before. This ship is turning.<\/p>\n\n\n\n

So Australia will tie itself in knots to close a few coal plants, but the rest of the world are pouring billions into fossil fuels.<\/p>\n\n\n\n

Global Banks Increase Fossil-Fuel Funding as Climate Pledges Crumble<\/a><\/h4>\n\n\n\n

by Elena Vardon, Wall Street Journal<\/em><\/p>\n\n\n\n

Global banks significantly increased their financing for coal, oil and gas projects last year, according to a new report by climate advocacy groups, marking a reversal at a time when lenders are backtracking on climate pledges.<\/p>\n\n\n\n

The world\u2019s largest lenders committed $869.4 billion to companies conducting business in fossil fuels in 2024, according to the \u201cBanking on Climate Chaos\u201d report published on Tuesday.<\/p>\n\n\n\n

The report, which tracks $7.9 trillion in fossil-fuel financing since 2016, notes that last year\u2019s increase was partly due to a retreat from climate action by banks<\/a>, with many watering down existing exclusion policies and delaying decarbonization targets.<\/p>\n\n\n\n

The banker-blob wants to rule the world, and for a while they acted like a quasi Global-government bossing companies and nations around.<\/p>\n\n\n\n

When asked to comment on their new lack of enthusiasm for saving the world most of the bankers said, \u201cno comment\u201d. They knew there was nothing they could say.<\/p>\n\n\n\n

But if the US elected representatives hadn\u2019t stopped them, who would have?<\/em><\/strong><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Elections do have consequences. (Thank goodness). After\u00a019 Republican States hounded the banker cartels\u00a0to behave,\u00a0and Donald Trump won, the bankers quietly fled from the Net Zero banker clubs. They had been using our pension funds to bully companies and countries.<\/p>\n","protected":false},"author":121246920,"featured_media":385340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691836094,691836093,691818228,691836091,691836092,691818154],"class_list":{"0":"post-385335","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-7-9-trillion","9":"tag-banking-on-climate-chaos","10":"tag-fossil-fuels","11":"tag-gfanz","12":"tag-global-banks","13":"tag-net-zero","15":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/06\/ChatGPT-Image-1.-Juni-2025-12_39_28.png?fit=1024%2C1024&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1Cf5","jetpack-related-posts":[{"id":366014,"url":"https:\/\/climatescience.press\/?p=366014","url_meta":{"origin":385335,"position":0},"title":"Trump effect spreads: The first Australian bank abandons the Climate Banker Club sending \u201cshockwaves\u201d","author":"uwe.roland.gross","date":"13\/02\/2025","format":false,"excerpt":"Australia is still launching itself to Net Zero Land at the top of the Magic Faraway Tree. 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The\u00a0Telegraph\u00a0has more.","rel":"","context":"In \"Bank of England\"","block_context":{"text":"Bank of England","link":"https:\/\/climatescience.press\/?tag=bank-of-england"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-328.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-328.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-328.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-328.png?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":360119,"url":"https:\/\/climatescience.press\/?p=360119","url_meta":{"origin":385335,"position":4},"title":"It\u2019s a win: Bankers are backing away from the Monster Banking Climate Cartel","author":"uwe.roland.gross","date":"02\/01\/2025","format":false,"excerpt":"It\u2019s a good start to 2025 \u2014 just quietly, the money is exiting the Monster Banker Climate Cartel. 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