Dossier
Net-Zero Banking Alliance
Coverage of Net-Zero Banking Alliance in the Nexus archive.
Royal Bank of Canadaorganization1Scotiabankorganization1HSBCorganization1NatWestorganization1Santanderorganization1JPMorgan Chaseorganization1Rainforest Action Networkorganization1Center for International Environmental Laworganization1Exxon Mobilorganization1Shellorganization1Saudi Aramcoorganization1petrochemicalstopic1
- Banks are financing the fossil fuel industry’s next growth strategy
Major banks are increasing financing for fossil fuel expansion and petrochemical projects, abandoning climate commitments. Reports show $508 billion in 2025 for fossil fuel development and $252 billion for petrochemical activities since 2019, enabling the industry’s shift to plastics and fertilizers.