An enormous web of industrial development is in progress in Northern Mozambique, to extract fossil gas offshore and then liquefy it for export. 14 of the world’s 60 biggest banks funded these projects in Mozambique, including Bank of China, HSBC, JPMorgan Chase, MUFG, and Société Générale.

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This was originally published as a case study in “Banking on Climate Chaos: Fossil Fuel Finance Report 2021” — a report by Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, and Sierra Club. You can see the full report at bankingonclimatchaos.org.

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