The causes fueling the climate crisis are receiving 20 times more financing than the solutions, new groundbreaking report by ActionAid reveals
actionaid.org
A new report reveals for the first time that the world’s banks including HSBC, Citigroup and Barclays are channeling an astounding 20 times more finance into the major causes of climate change than governments in the Global South are receiving as funding for climate solutions.

Fossil fuel and industrial agriculture industries in the Global South are receiving an annual average of 20 times more financing from banks than governments are receiving for climate solutions. Banks have put $3.2 trillion towards the expansion of fossil fuels since the Paris Agreement, with $370 billion being funneled into the second major cause of climate change, industrial agriculture. Top banks funding the climate crisis include HSBC, Citigroup and JP Morgan Chase.

  • bedrooms@kbin.social
    2·
    1 year ago

    Only 20 times? That’s rather good news, but I’m not sure how effective that 1/20 money is.