The Independent emphasizes the vital role of journalism in reporting significant issues, from reproductive rights to climate change. With the recent Banking on Climate Chaos report revealed a sharp $162 billion increase in fossil fuel financing in 2024 by the top 65 global lenders, particularly after years of decline, the article underscores the shifting priorities of financial institutions. This rise contrasts with the critical need for climate action, which faces weakening commitments from companies since recent political shifts. The article advocates for accessible journalism funded by community donations rather than paywalls.
The world's biggest banks significantly increased their fossil fuel finance in 2024, with the top 65 lenders committing $869 billion, marking a concerning shift in climate commitments.
This year’s Banking on Climate Chaos report highlighted that financing for fossil fuels rose by $162 billion compared to 2023, reversing previous trends of reduction.
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