International banks are financing the industry’s pivot to petrochemical products like plastics and fertilizers.

For the past two years, more than a dozen major banks have been not only reneging on their climate commitments, they’ve been actively making the crisis worse. In 2024 and 2025, during the leadup to President Donald Trump’s second inauguration, all six of the nation’s largest banks abandoned the Net-Zero Banking Alliance, a voluntary climate coalition, precipitating the Alliance’s complete…

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