Boosted by Trump, banks resume their love affair with fossil fuels

For the first time since 2021 — the start of the Biden administration — banks have ramped up their financing of fossil fuel projects, a changing tide that reflects the Trump White House’s close ties to and energetic support for Big Oil. That’s based on the annual “Banking on Climate Chaos” report, which analyzes the lending patterns of the 65 largest banks in the world, and some 2,730 firms with fossil fuel interests that they’ve lent to.

The report, published June 17 and authored by a group of eight environmental nonprofits...