Global Banks and Deforestation
Global banks have earned billions of dollars from deforestation, according to new research by Global Witness.
Financial institutions have made $26 billion from financing deforesting companies since the Paris Agreement was signed in 2015, averaging around $7 million every day.
A new report released by Global Witness exposes the glaring contradiction at the heart of forest finance.
- Brazil is preparing to launch a flagship tropical forest fund at COP30.
- The report highlights the role of financial institutions in deforestation.
Author's summary: Banks earn billions from deforestation despite climate goals.