The Complete Guide to Divestment
Hitting the big banks and fossil fuel companies where it hurts.
Fossil Fuel Investments Need to End. Now.
Since the Paris Agreement was signed on December 12, 2015, banks around the world have helped to finance fossil fuel projects to the tune of $1.9 trillion according to a new joint report from several environmental non-profit groups. Not surprisingly, the top four banks with the largest fossil fuel investments happen to be headquartered in the United States, as shown in the table below.
JP Morgan Chase leads the pack substantially by as much as 29% for global fossil fuel financing with nearly $196 billion invested in just the short span since the Paris Agreement was signed. Ironically, prior to the signing of the agreement, Bank of America, Citi, Goldman Sachs, JP Morgan Chase, Morgan Stanley, and Wells Fargo released a joint statement about the importance of a strong climate agreement and stated that they have “the business opportunity to build a more sustainable, low-carbon economy and the ability to help manage and mitigate these climate-related risks.”
