Overview
- A coalition of eight NGOs found that the 65 largest banks provided about $906 billion to oil, gas and coal in 2025, an increase of roughly 8% from 2024.
- More than half of the 2025 funding backed new fossil‑fuel projects, and roughly a dozen banks accounted for about 40% of the total, concentrating influence over which projects receive capital.
- JPMorgan Chase was the single largest financier in 2025, supplying about $58 billion to fossil‑fuel companies and projects and increasing its share from the prior year.
- Among major French banks, Société Générale stood out for raising its oil and gas support in 2025, and its CEO Slawomir Krupa was elected to TotalEnergies’ board in late May, deepening financial and governance ties.
- The report notes that these trends follow the end of the Net‑Zero Banking Alliance in 2025 and continue a decade‑long flow of bank finance to fossil fuels since the 2015 Paris Agreement, a pattern that may prompt more regulatory scrutiny and higher costs for affected communities and investors.