Banking on Coal, Still: Bank Funding of Fossil Fuels around Germany's Coal Exit
Using a new dataset on fossil fuel funding, this paper examines bank responses to Germany’s 2020 coal phase-out decision. German banks reduced fossil fuel financing relative to other banks but not coal funding. Globally, banks increased underwriting for coal companies relative to other fossil fuel firms. Firms with entirely coal-based post-sample power production received more funding, indicating
