Global Carbon Bomb Projects Continue Despite Climate Commitments: 28 New Fossil Fuel Ventures Since 2021

Oct 28, 2025 12:36 am CST

A new report by environmental NGOs reveals that 28 major "carbon bomb" fossil fuel extraction projects have begun operations since 2021, despite international agreements to phase out fossil fuels. These projects, along with over 2,300 smaller ventures, collectively threaten to exceed the global carbon budget for limiting warming to 1.5°C by 11 times, while major banks continue to provide $1.6 trillion in financing to the responsible companies.