US EditionWhy Are Investors Still Financing Fossil Fuels?
UNITED STATES, AUG 7 – Top six US banks reduced fossil fuel financing to $73 billion in early 2025, marking a 25% drop driven by economic factors rather than climate policy enforcement.
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3 Articles
Wall Street shifts toward renewables as it sours on fossil fuels
Wall Street is falling out of love with fossil fuels, and showing more affection for renewables. Financing for oil, gas, and coal projects from the top six US banks fell to $73 billion in the first seven months of the year, down 25% from the same period last year, according to a Bloomberg analysis. The data, analysts say, show that banks have an “it’s complicated” relationship with the energy transition: While all these same banks have dropped o…
Energy Lending Shrinks as Upstream Spending Declines
Fossil fuel financing by Wall Street’s leading banks has declined sharply in 2025, highlighting a market-led shift away from high-carbon investments that is unfolding independently of public net zero commitments. According to Bloomberg data, the top six US banks reduced their collective lending and underwriting to oil, gas, and coal projects by 25 percent in the first seven months of the year compared to the same period in 2024. Total financing …
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