‘Net-zero’ banks raised $1 trillion for fossil fuel giants

Less than a hundred miles from where world leaders are discussing how to meet their climate pledges, BP is drilling for gas.

The Shafag-Asiman project, a sprawling gas field off the Azerbaijani coast, could inject more than 1 billion metric tons of carbon into the atmosphere, striking a major blow to efforts to slow global warming.

BP has said it intends to invest heavily in new oil and gas fields in the coming years. But it would be unable to pursue these dirty projects without billions in support from big banks.