The world's banks are still fuelling environmentally harmful activities

AS the critical 16th Conference of Parties to the Convention on Biological Diversity continues in Cali, Columbia (Oct 21-Nov 1, 2024), new research and analysis released on Oct 17, 2024, reveal that the world’s major banks have funnelled over US$395bil (RM1.72 trillion) in credit to sectors driving deforestation and human rights abuses in tropical forests since the adoption of the Paris Agreement in 2016.

In the most recent analysis period alone (January 2023 to June 2024), that amount came to US$77bil (RM335bil).