Yeah, but the US isn’t the only problem. While European banks and some Canadian banks reduced their fossil financing, some US, Japanese, and Chinese banks were responsible for the largest year-on-year increases.

From the original report:

-Over a third of the world’s largest banks (26 of 65) reduced their fossil financing from the previous year, with some European banks and some Canadian banks driving most of that progress.

-The remaining 39 banks moved in the opposite direction, and some US, Japanese, and Chinese banks were responsible for the largest year-on-year increases.

-On balance, the world’s 65 largest banks committed $906 billion to companies conducting business in fossil fuels in 2025, up $64 billion or 7.6% from 2024.

-Since 2021, global banks have funneled over $4.2 trillion in financing to fossil fuels, including $2.1 trillion to fossil firms in expansion.

Edit

Dealmakers and Dealtakers: Top Bank Financing by Country 2025

The US dominates as a financial center providing bank financing for fossil fuels. This petrostate also jumps off the chart (below) as the nation receiving the most fossil fuel debt from banks. In fact, US fossil fuel corporations received 45.4% of all fossil fuel financing in 2025. Comparing countries’ total bank fossil financing to their fossil fuel company borrowers, the US is an outlier. It is the only Big Six financial center [comprising the U.S., Canada, Japan, EU, China, UK] whose fossil firms receive more bank financing than its banks provide. Japanese banks, on the other hand, provide much more financing than the country’s fossil sector receives. In China, the volume of bank financing to fossil firms is about equal to the amount received by fossil firms. This is at least partly explained by China’s more insular financing model: about 86% of 2025 fossil financing from Chinese banks went to Chinese comp

From the original report:

-Over a third of the world’s largest banks (26 of 65) reduced their fossil financing from the previous year, with some European banks and some Canadian banks driving most of that progress.

-The remaining 39 banks moved in the opposite direction, and some US, Japanese, and Chinese banks were responsible for the largest year-on-year increases.

-On balance, the world’s 65 largest banks committed $906 billion to companies conducting business in fossil fuels in 2025, up $64 billion or 7.6% from 2024.

-Since 2021, global banks have funneled over $4.2 trillion in financing to fossil fuels, including $2.1 trillion to fossil firms in expansion.

Edit

Dealmakers and Dealtakers: Top Bank Financing by Country 2025

The US dominates as a financial center providing bank financing for fossil fuels. This petrostate also jumps off the chart (below) as the nation receiving the most fossil fuel debt from banks. In fact, US fossil fuel corporations received 45.4% of all fossil fuel financing in 2025. Comparing countries’ total bank fossil financing to their fossil fuel company borrowers, the US is an outlier. It is the only Big Six financial center [comprising the U.S., Canada, Japan, EU, China, UK] whose fossil firms receive more bank financing than its banks provide. Japanese banks, on the other hand, provide much more financing than the country’s fossil sector receives. In China, the volume of bank financing to fossil firms is about equal to the amount received by fossil firms. This is at least partly explained by China’s more insular financing model: about 86% of 2025 fossil financing from Chinese banks went to Chinese comp

And now President Xi has said China will strive to do better than the targets in your new national climate plan – or your NDC [Nationally Determined Contribution].

To put that in context: China has set its own NDC (deliberatly?) low. As the scientists at the Climate Action Tracker (CAT) say

Historically, China has calibrated its climate commitments to levels that are largely achievable under existing policies and investment trends, allowing room for over-delivery.

Referring to China’s 2035 NDC targets, the analysis adds,

… despite structural improvement, this target is unlikely to further lower emissions … There is a substantial gap between the NDC targets and the reductions needed to align with 1.5°C …

As the CAT researchers conclude and you can see on their site, China is among the countries most behind when it comes to reach the Paris agreement.

But it’s a good speech by the diplomat at the Chinese university and it fits OP’s ongoing propaganda move.

Meanwhile, China’s domestic sales of new cars in April fell by 22 percent from a year earlier, according to the China Association of Automobile Manufacturers. China seems to depend on export markets now more than ever.

The group of 60 states that discuss the fossil fuel phase out as described in the linked article formed during the latest COP last year in Brazil as the majority of governments refused to commit to an end of fossil fuels. China and the US, both among the world’s largest polluters in total as well as per capita, are among these countries. They have no interest in a fossil fuel phase out.

“One of the most horrible features of war is that all the war-propaganda, all the screaming and lies and hatred, comes invariably from people who are not fighting.”