Betting on a sinking ship: Nine banks provide key backing for massive and controversial offshore gas reservoir in Timor Sea – despite most pledging net zero targets.
Finance expert Tom Davey says that the class actions against investment bank Credit Suisse send a strong message that companies must clean up their act.
Global banks have collectively funnelled more than $5.5trn into the fossil fuel sector over the past seven years and, while US-based banks have been the biggest contributor, the UK and France are also in the top five.