A new report by a group of environmentalist organizations has accused the world’s biggest banks of wreaking “climate chaos” on the world by investing trillions in the oil and gas industry. Titled “Banking on Climate Chaos”, the report says that the world’s 60 biggest banks have invested $3.8 trillion in fossil fuels in the five years since the Paris Agreement. “Runaway funding for fossil fuel extraction and infrastructure fuels climate chaos and threatens the lives and livelihoods of millions,” the authors said, noting that the biggest culprit was JP Morgan, which poured $317 billion in the oil and gas industry through lending and debt and equity issue underwriting. Citi was second, with $238 billion in fossil fuel investments over the five years since the Paris Agreement, and Wells Fargo completed the top three with $223 billion. Bank of America and RBC came in fourth and fifth, making the top […]