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2 min read Energy Transition

Is the financial sector really moving away from fossil fuels?

“The reality is that the economics are not in favour of more oil and gas production."
Melodie Michel
Melodie Michel
Is the financial sector really moving away from fossil fuels?
Photo by Travis Leery on Unsplash

Recent data suggests that 2025 may be the year Western banks and investors shift their attention from fossil fuels to clean energy – but opinions diverge on how to interpret this trend.

In early August, Bloomberg published proprietary data showing that financing from Wall Street banks to oil, gas and coal projects fell by 25% to US$73 billion in the first seven months of 2025, compared to the same period in 2024.

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