- Created: Wednesday, 17 July 2019 14:58
- Written by FRFI
Despite many international agreements, most recently the 2015 Paris Climate Change Conference, there has been no let-up in carbon emissions and subsequent climate change:
33 global banks invested a combined $1.9 trillion in fossil fuel companies between 2015 and 2018. HSBC was the 13th largest investor, while Barclays continues to fund tar sand exploitation in Canada.
The oil and gas industry is forecast to spend a massive $4.9 trillion on exploration and extraction of new fossil fuel fields over the next decade; it will drive a coach and horses through the already inadequate Paris agreement.