Major banks have been backtracking on their climate commitments, according to reports. Over a dozen banks have been making the climate crisis worse over the past two years. The nation's largest banks had abandoned a voluntary climate coalition, leading to its shutdown.

Other banks have also weakened or scrapped their decarbonization targets. Further details on this development are available from the source, including information on the banks' increased spending on fossil fuels and their support for the industry's shift to petrochemical products.