Investment firms with Irish subsidiaries pump €5.7bn into fossil fuels since Paris climate deal

The report also revealed that as of January this year, Irish financial institutions here held €12.1 million

The details about Ireland’s role in financing fossil fuels were released as part of the wider report, which indicated bank financing to the fossil fuel industry in the global south reached an estimated $3.2 trillion in the seven years since the Paris climate accord. The report also highlighted that since the Paris climate accord, banks globally have provided 20 times more financing to fossil fuels and agriculture activities in the global south than northern governments“At a time of unprecedented climate crisis, the world’s banks and investments funds continue to invest staggering amounts into fossil fuels and environmentally harmful large-scale agribusiness in the Global South,” said ActionAid Ireland chief executive Karol Balfe.

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