World’s largest banks pledged $906bn to fossil fuel companies in ‘unfathomable’ increase in 2025, report finds

The world's largest banks committed $906 billion in financing to the fossil fuel industry in 2025, representing an increase of $64 billion or nearly 8% compared to 2024. This surge in investment, detailed in a new analysis by a coalition of environmental groups, indicates that the 65 largest banks are making decisions that are incompatible with international agreements aimed at restraining rising global temperatures. JPMorgan Chase is identified as a leading institution among these banks. The report, titled "Banking on Climate Chaos," highlights that this substantial financial commitment locks in years more of coal, oil, and gas production while the planet continues to overheat. The analysis suggests that these financial decisions are directly contributing to the ongoing climate crisis.