Despite pledges from many banks that they would review, limit, or phase out coal financing in the energy transition, lenders have financed the coal industry globally with $1.5 trillion since 2019, a report from Germany-based NGO Urgewald cited by Bloomberg shows. Mizuho Financial Group, Barclays, Citigroup, and JPMorgan Chase were the largest lenders for coal, while Chinese banks topped the ranking of underwriting capital the coal industry has raised over the past two years, according to the study by Urgewald and its partners. “What we’re…
