0401 GMT - The world's largest banks are providing more than twice as much financing for fossil fuels as they are for sustainable sources, according to a report by environmental group Reclaim Finance and its partners. Around $1.368 trillion was allocated to sustainable power--solar, wind, related infrastructure--between 2021 and 2024, compared with $3.285 billion for fossil fuels. "The biggest U.S. banks perform particularly badly, appearing at the bottom of the ranking, with some of the weakest energy financing ratios," the report reads. The campaigners call on the banks to immediately end all support for fossil fuel expansion and increase funding for sustainable alternatives by introducing sectoral targets. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
September 23, 2025 00:01 ET (04:01 GMT)
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