![]() And while the International Energy Agency argues that funding for new oil and gas needs to stop now to avoid catastrophic climate change, bankers counter that polluters need help to transition to new sources of energy. ![]() ![]() In total, global banks led by the Wall Street titans have helped fossil-fuel companies issue almost $250 billion in bonds so far in 2021, a figure that also broadly matches average annual fundraising for the industry since 2016. Wells Fargo, which Bloomberg data show as lending the most of any bank to fossil-fuel companies, is on track to double the amount of credit it has granted to the sector this year.
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