Trillions Of Dollars Of Fossil Fuel Finance Routed Via Tax Havens: Study

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Trillions Of Dollars Of Fossil Fuel Finance Routed Via Tax Havens: Study

"FRANKFURT - Trillions of dollars of bank finance to fossil fuel companies is being routed via opaque financial centres in several countries, including the Netherlands, research published on Wednesday showed.

The study by Tax Justice Network, which campaigns against tax havens, highlights a lack of transparency in funding for energy companies.

The study examined 60 global banks' $6.9 trillion of syndicated financing of fossil fuel companies, such as coal miners or shipping firms between 2016 to 2023, including loans, credit lines and bonds."

John O'Donnell reports for Reuters September 11, 2024.

Climate Change

Economy & Business

Energy & Fuel

Environmental Politics

Source: Reuters, 09/12/2024