| | Extreme Temperature Diary- Tuesday October 21st, 2025/Main Topic: Report Reveals $2 Billion of New Financing by Big Banks for Oil and Gas in the Amazon – Guy On Climate
Dear Diary. Way back around 2005 I was at The Weather Channel causing “good trouble” trying to convince my associates that climate change was a really bad thing to deal with then and in the future. Even 20 years ago there was plenty of proof. The year 2005 was the year Katrina hit. Hear waves were becoming more common across the U.S. such that I was discovering a 2 to 1 disproportionation of daily record maxes to lows across the U.S. for the decade of the 2000s. I wasn’t the only TWC voice that convinced the powers that be there to hire a climate expert in the person of Dr. Heidi Cullen.
At that time, I told Dr. Cullen and others to watch what would happen to newly found reserves of Brazilian oil, asking whether or not the stuff would be left in the ground. If the stuff was drilled, I said it would be game over for our climate. Logically since the Amazon region has had several million plus year cycles of being covered by dense tropical vegetation, I thought that huge reserves of fossil fuels would be underground in that large region of South America. Twenty years later many nations that are at least partially in the Amazon are selling away with more plans to ramp up that process. Indeed, our climate is doomed to become an unlivable hell.
Here are more details from Common Dreams:
Report Reveals $2 Billion of New Financing by Big Banks for Oil and Gas in the Amazon | Common Dreams
 The Pastaza River and the Heart island are seen in the southern Ecuadorian Amazon Rainforest on April 12, 2023. Photo by Misha Vallejo Prut for The Washington Post via Getty Images)
Report Reveals $2 Billion of New Financing by Big Banks for Oil and Gas in the Amazon“These investments are complicit in genocide: They are killing our culture, our history, and destroying the biodiversity of the Amazon.” Julia Conley
Oct 21, 2025
A day after the Brazilian state-run oil firm Petrobras announced it would begin drilling for oil near the mouth of the Amazon River “immediately” after obtaining a license despite concerns over the impact on wildlife, an analysis on Tuesday revealed that banks have added $2 billion in direct financing for oil and gas in the biodiverse Amazon Rainforest since 2024.
The report from Stand. Earth—and Petrobras’ license—come weeks before officials in Belém, Brazil prepare to host the 2025 United Nations Climate Change Conference (COP30), where advocates are calling for an investment of $1.3 trillion per year for developing countries to mitigate and adapt to the climate emergency.
RECOMMENDED…
 ‘Historic Mistake’: Brazil Opens Up Amazon to New Oil Drilling Ahead of Global Climate SummitExamining 843 deals involving 330 banks, Stand.earth found that US banks JPMorgan Chase, Bank of America, and Citi are among the worst-performing institutions, pouring between $283 million and $326 million into oil and gas in the Amazon.
The biggest spender on oil and gas in the past year has been Itaú Unibanco, the Brazilian bank, which has sent $378 million in financing to oil and gas firms for extractive activities in the Amazon.
“Oil and gas expansion in the Amazon endangers one of the world’s most vital ecosystems and Indigenous peoples who have protected it for millennia,” said Stand.earth. “In addition to fossil fuels leading global greenhouse gas emissions, in the Amazon their extraction also accelerates deforestation, and pollutes rivers and communities.”
The group’s research found that banks have directly financed more than $15 billion to oil and gas companies in the Amazon region since the Paris Agreement, the legally binding climate accord, was adopted in 2016. Nearly 75% of the investment has come from just 10 firms, including Itaú, JPMorgan Chase, Citi, and Bank of America.
The analysis comes weeks after the UN-backed Net-Zero Banking Alliance said it was suspending its operations, following decisions by several large banks to leave the alliance that was established in 2021 to limit banks’ environmental footprint, achieve net-zero emissions in the sector by 2050, and set five-year goals for reducing the institutions’ financing of emissions.
“Around 1,700 Indigenous people live here, and our survival depends on the forest. We ask that banks such as Itaú, Santander, and Banco do Nordeste stop financing companies that exploit fossil fuels in Indigenous territories.”
Devyani Singh, lead researcher for Stand earth’s new bank scorecard on fossil fuel financing, noted that European banks like BNP Paribas and HSBC have “applied more robust policies to protect the sensitive Amazon rainforest than their peers” and have “significantly dropped in financing ranks.”
But, said Singh, “no bank has yet brought its financing to zero. Every one of these banks must close the existing loopholes and fully exit Amazon oil and gas without delay.”
More than 80% of the banks’ Amazon fossil fuel financing since 2024 has gone to just six oil and gas companies: Petrobras, Canada’s Gran Tierra, Brazil’s Eneva, oil trader Gunvor, and two Peruvian companies: Hunt Oil Peru and Pluspetrol Camisea.
The companies have been associated with human rights violations and have long been resisted by Indigenous people in the Amazon region, who have suffered from health impacts of projects like the Camisea gas project, a decline in fish and game stocks, and a lack of clean water.
“It’s outrageous that Bank of America, Scotiabank, Credicorp, and Itaú are increasing their financing of oil and gas in the Amazon at a time when the forest itself is under grave threat,” said Olivia Bisa, president of the Autonomous Territorial Government of the Chapra Nation in Peru. “For decades, Indigenous Peoples have suffered the heaviest impacts of this destruction. We are calling on banks to change course now: by ending support for extractive industries in the Amazon, they can help protect the forest that sustains our lives and the future of the planet.”
Stand.earth’s report warned that both the Amazon Rainforest—which provides a habitat for 10% of Earth’s biodiversity, including many endangered species—and the people who live there are facing “escalating threats” from oil and gas companies and the firms that finance them, with centuries of exploitation driving the forest “toward an ecological tipping point with irreversible impacts that have global consequences.”
Oil and gas exploration is opening roads into intact parts of the Amazon and other forests, while perpetuating the new fossil fuel emissions that scientists and energy experts have warned have no place on a pathway to limiting planetary heating.
“With warming temperatures, the delicate ecological balance of the Amazon could be upset, flipping it from being a carbon-absorbing rainforest into a carbon-emitting savannah,” reads the group’s report.
Jonas Mura, chief of the Gavião Real Indigenous Territory in Brazil, said “the noise, the constant truck traffic, and the explosions” from Eneva’s projects “have driven away the animals and affected our hunting.”
“Even worse: they are entering without our consent,” said Mura. “Our territory feels threatened, and our families are being directly harmed. Around 1,700 Indigenous people live here, and our survival depends on the forest. We ask that banks such as Itaú, Santander, and Banco do Nordeste stop financing companies that exploit fossil fuels in Indigenous territories.”
“These companies have no commitment to the environment, to Indigenous and traditional peoples, or to the future of the planet,” he added. “These investments are complicit in genocide: They are killing our culture, our history, and destroying the biodiversity of the Amazon.”
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Julia Conley
Julia Conley is a staff writer for Common Dreams.
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Here are more “ETs” recorded from around the planet the last couple of days, their consequences, and some extreme temperature outlooks, as well as any extreme precipitation reports:
EXTRAORDINARY HEAT IN AUSTRALIA 🇦🇺46c
46.1 Birdsville
QUEENSLAND HOTTEST OCTOBER DAY EVER
44.8 Bourke
NEW SOUTH WALES HOTTEST OCTOBER DAY EVER
Dozens of records pulverized with extreme margins👇
Australian climatic history rewritten — Extreme Temperatures Around the World (@extremetemps.bsky.social) 2025-10-21T10:44:13.417Z
Warmer and warmer in the AZORES
Minimums beween 22C and 23C again tonight in all islands.
Absolutely unprecedented for late October.
More tropical nights are expected tomorrow.
4 in a row ! — Extreme Temperatures Around the World (@extremetemps.bsky.social) 2025-10-21T07:33:12.929Z
How is Thailand doing?
I dont think 18C is gonna happen in Bangkok is it true that its not gonna happen — Weather Fanatic (@weatherfanlin.bsky.social) 2025-10-21T12:02:49.711Z
EXCEPTIONAL SUMMER WARMTH IN CANADA
Incredible and unprecedented heat for this time of the year with temperature locally above summer averages
like 29.0C at St Anicet ,Quebec
and 28.2 Ormstown
More warmth on the way — Extreme Temperatures Around the World (@extremetemps.bsky.social) 2025-10-20T20:51:43.593Z
Fierce heat in TEXAS
with temperatures up to 103F at Rio Grande
Summer conditions in swathes of North America will continue during this week.
This aligns to what your author said 1 month ago.
100% success ratio in all world forecasts in 2025. — Extreme Temperatures Around the World (@extremetemps.bsky.social) 2025-10-21T04:29:24.854Z
UN pushes for worldwide disaster alerts as extreme weather ‘spirals’
#climate
aje.io/88sixa via @AJEnglish — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-21T08:39:57.125Z
"World’s oceans losing their greenness through global heating, study finds" | Great piece by Jonathan Watts for @theguardian.com on our (Hong et al) new article in #ScienceAdvances: www.theguardian.com/environment/... — Michael E. Mann (@michaelemann.bsky.social) 2025-10-18T13:55:06.361Z
The findings of this study (decreased ocean greenness) are closely tied to our (@lijingcheng.bsky.social et al) previous findings of an increasing trend in ocean stratification. See e.g. my @newsweek.com commentary on that study: www.newsweek.com/climate-chan... — Michael E. Mann (@michaelemann.bsky.social) 2025-10-17T19:53:02.652Z
"Declining ocean greenness and phytoplankton blooms in low to mid-latitudes under a warming climate" | Our (Hong et al) new article in @aaas.org #ScienceAdvances: www.science.org/doi/10.1126/... — Michael E. Mann (@michaelemann.bsky.social) 2025-10-17T19:42:46.969Z
Mosquitoes found in Iceland for first time as climate crisis warms country #Climate — Climate Tracker (@climate.skyfleet.blue) 2025-10-21T11:10:19.830Z
North Pacific warmest summer on record. Sea surface temperatures more than 0.25C above the previous high of 2022 - big increase across an area roughly ten times the size of the Mediterranean.
#climate
www.bbc.co.uk/news/article... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-20T09:05:04.088Z
Why Democrats aren’t talking about climate change much anymore #Climate — Climate Tracker (@climate.skyfleet.blue) 2025-10-21T09:10:15.311Z
Keir Starmer will attend Cop30 in Brazil, No 10 confirms #Climate — Climate Tracker (@climate.skyfleet.blue) 2025-10-20T20:10:37.131Z
Uncertainty is high, but with only two to three days to prepare we must consider the potential for a tropical cyclone hitting Hispaniola this week. Sixty percent of models this morning indicate this. See DeepMind AI (FNV3), American GFS, European AI (AIFS), and US Navy. 1/ — John Morales (@johnmoralestv.bsky.social) 2025-10-20T20:18:26.766Z
The spectrum of possible outcomes with soon to be #Melissa — Jeff Berardelli (@weatherprof.bsky.social) 2025-10-20T22:52:05.809Z
Over the past 25 years, here’s every storm that was a hurricane at some point in its life, that entered the Gulf in late October and November. Of the massive number of Caribbean monsters, only some reach the Gulf… 1/ — Jeff Berardelli (@weatherprof.bsky.social) 2025-10-21T12:21:47.532Z
October heat records broken across Australia as Sydney braces for temperatures way above the norm #Climate — Climate Tracker (@climate.skyfleet.blue) 2025-10-21T09:05:13.908Z
— Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-20T20:02:36.922Z
Georgia US facing the largest demand for electricity in its history, driven by datacenter construction.
www.theguardian.com/us-news/2025... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-20T08:47:38.655Z
3 of America’s Biggest Public Transit Systems Are Teetering on the Brink #Climate — Climate Tracker (@climate.skyfleet.blue) 2025-10-20T20:15:38.796Z
23% more energy storage capacity set to be installed globally in 2025 than in 2024.
By end of 2025, 92GW/247GWh of #energy #storage capacity will be added globally.
www.edie.net/global-energ... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-21T09:14:07.366Z
Energy Department Kills $700 Million in Grants for Battery Manufacturing #Climate — Climate Tracker (@climate.skyfleet.blue) 2025-10-21T12:15:22.591Z
China’s largest turbine makers are lobbying the government to install at least 120 gigawatts of #wind power capacity in each of the next five years www.bloomberg.com/news/article... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-21T08:41:33.555Z
— Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-20T09:06:27.848Z
#Scotland #RenewableEnergy 'should be developed under control and direction of the people of Scotland for their benefit. Public interest framework for development of energy sector, take direct stake, profits invested in social/economic infrastructure.'
www.thenational.scot/politics/255... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-20T08:56:24.358Z
Massive potential for tidal energy here in the UK - particularly on the Severn Estuary.
jonathonporritt.com/severn-tidal... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-21T09:11:15.758Z
— Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-21T07:38:04.817Z
Nuclear fusion - for the past 80 years, always 20 years in the future. Perhaps an experiment to prove time doesn't exist in #nuclear physics ?
#Fusion
www.thetimes.com/uk/science/a... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-20T08:49:43.098Z
Jonathon Porritt: 'Ed Miliband's #nuclear nightmares.' www.linkedin.com/pulse/ed-mil... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-21T13:33:04.193Z
From Uzbekistan to France: The Environmental and Geopolitical Fault Lines of Exporting Uranium
thediplomat.com/2025/10/from... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-19T20:35:17.639Z
‘Much fairer’: all profits from new Orkney windfarm to benefit locals
Construction due to begin in 2027 on what is expected to become UK’s largest publicly owned windfarm
www.theguardian.com/uk-news/2025... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-21T19:09:41.649Z
Economics of renewable energy. There are more jobs in renewable than in fossil fuel. People are locked into fossil fuel. @drpauldorfman.bsky.social
youtube.com/shorts/e7dg9... — Science Talk (@scitalkofficial.bsky.social) 2025-10-19T23:39:28.881Z
Artificial reef created at offshore wind farm
bbc.com/news/article... — Dr Paul Dorfman (@drpauldorfman.bsky.social) 2025-10-20T07:47:14.756Z
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