At the climatic conference in the Glasgow Government of 2021, 197 countries agreed to get out of coal burning. At the same time, many banks promised to free their portfolios from fossil fuel. “It was as if Glasgow never existed,” says Katrin Hanswindt, Urgald finance expert.
13 largest coal banks around the world come from China and act only there. Since 2022, they supported this sector with more than $ 248 billion.
While the largest institute called CITIC in this area last year more than $ 12 billion, the first bank from the West, the Bank of America, only in 14th place with about 2.5 billion dollars.
The largest carbon financier from the west is 14th place
According to the report, the largest carbon Coaller from Europe is the British Barclays bank in 27th place from $ 1.4 billion last year. According to Urzhvald, Deutsche Bank (44th place) in 2024 doubled from 987 million dollars. USA. In particular, in particular: he was the only European bank that participated in a billion loan for the controversial energy company of the USA PEABODY.
In November 2024, Peabody Energy acquired coal systems of the South African company Anglo American. “What should the company do so that it does not receive money from Deutsche Bank?” He asks the participant in the Urgewald campaign Philip Nok. Pibodi makes 95 percent of his sales with coal. However, Deutsche Bank, from $ 474.1 million. The United States in 2024 was the second largest donor Pibodi around the world. “This is not a deal, this is an oath of revelation,” said the PLAC.
“We cannot understand the amounts mentioned in the report,” said the representative of TAZ Bank. In the report of the NPO “Banking case on climatic chaos”, published just a few weeks ago, the German market leader was “shot down” around the world with regard to funding for fossils ”from the 22nd place (2023). Over the past ten years, Deutsche Bank has reduced his commitment in intensive means. ” Urgevald emphasized that its numbers were correct because a larger database was used.
Like number 2 in Germany, Commerzbank: according to the report, the financial institution reduced its coal financing with $ 213 million. The United States in 2022 until 191 million in 2023 in the order to significantly increase it in 2024, by $ 417 million.
According to the report, European banks provided a total of $ 20 billion with Glasgow. The largest coal banks in Europe are the British Barclays ($ 4 billion), Deutsche Bank (2 billion), BNP Paribas from France (1.5 billion), Swiss or submarines (1.3 million) and Santander from Spain (0.9 billion).
