Bloomberg Law
May 19, 2021, 4:01 AM

Five Takeaways From Global Banks’ Green vs. Fossil Financing

Tim Quinson
Tim Quinson
Bloomberg News
Mathieu Benhamou
Bloomberg Editorial

Since the clinching of the Paris Agreement, the global banking sector has underwritten more than $3.6 trillion of bonds and loans for the fossil-fuel industry. No bank has done more—or taken more in fees—than JPMorgan Chase in the past five-plus years.

The same constellation of banks has originated more than $1.3 trillion of green bonds and loans to support climate-friendly projects over the same period. No bank has done less than Wells Fargo, which has arranged the lowest proportion of green financing relative to fossil fuel among the world’s largest lenders.

These are some of the key findings from a new analysis of ...