New research by ActionAid shows that:
•Bank financing provided to the fossil fuel industry in the Global South reached an estimated
US$3.2 trillion in the seven years since the Paris Agreement on Climate Change was adopted.3
•Bank financing provided to the largest industrial agriculture companies operating in the Global
South amounted to US$370 billion over the same period.
•Banks have provided an annual average of 20 times more financing to fossil fuels and
agriculture activities in the Global South than Global North governments have provided as
climate finance to countries on the front lines of the climate crisis.