A report from a coalition of environmental groups shows that Royal Bank of Canada was the biggest fossil fuel financier in the world last year after providing over $42 billion US in funding.
The annual Banking on Climate Chaos report shows the bank’s funding between 2016 and 2021 put it as the fifth-largest fossil fuel funder, but 2022 was the first year it provided the most money.
In 2021, RBC was the fifth-largest financier to fossil fuel projects in the world.
American bank JP Morgan was the largest financier to the industry in 2021 with just over $67 billion US, before being passed by
