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Capital Flows
April 14, 2023

RBC replaces JPMorgan as largest fossil fuel financier in 2022

ByClaudia De Meulemeester
Royal Bank of Canada logo
Royal Bank of Canada ranked as the largest fossil fuel financier in 2022, having provided $42.13bn to the sector (Photo: Mark Blinch/Reuters)

New research finds that despite a decrease in overall financing for fossil fuel companies in 2022, banks’ policies allow for an annual loophole of $750bn.

Royal Bank of Canada was the largest financier of fossil fuel companies in 2022, having facilitated a total $42.13bn to the industry and ...

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