In overall trends, finance related to gas-fired power, Arctic oil and gas, and ultra deepwater oil and gas projects fell last year, while it increased for companies focused on LNG.
JPMorgan had committed $40.8bn to fossil fuel companies in 2023, making the US bank the leading lender both for the year and since the Paris agreement, according to the report.
The International Energy Agency said three years ago there could be no new oil, gas and coal development if the world was to reach net zero emissions by 2050 to curb global warming in line with the Paris agreement.
The largest funder of companies expanding fossil fuel projects in 2023 was also JPMorgan, while Citi ranked first over the period since the Paris agreement despite its financing being lower in the past two years.