The world’s biggest 60 banks have provided $3.8 Trillion of financing for fossil fuel companies since the Paris climate deal in 2015. It has been known since at least 2015 that a significant proportion of existing reserves must remain in the ground if global heating is to remain below 2C, the main Paris target. Financing for new reserves is therefore the “exact opposite” of what is required to tackle the climate crisis. A spokesperson for BNP Paribas said : “During the Covid-19 crisis, all sectors of the economy needed support and BNP Paribas, like other banks, played an important stabilising role for the economy. However, BNP Paribas supported the oil and gas sector to a lower extent than other sectors of activity.”
Source:
Will Ferrell: The Campaign by Jay Roach, 2012
theguardian.com, Damian Carrington, 24.03.2021