World banks increase investments in the coal industry, despite the reached climatic agreements, writes Bloomberg

Over the past three years, banks have invested 385 billion in coal-fired power, while financing volumes in 2024 increased by 2023.

The largest investors were Chinese banks, which invested almost 250 billion

US banks are in second place, led by Bank of America, JPMorgan Chase and Citigroup.

At the Glasgow Climate Summit in 2021, almost 200 countries agreed to reduce coal use, and the world's largest banks promised to decarbonize their investment portfolios, Bloomberg recalls.

Currently, only 24 of the 99 largest banks in the world have developed a plan to phase out financing for the coal industry by 2040.

Subscribe to Vedomosti