Morgan Stanley’s coal loans, though well below their 2014 levels, more than doubled from 2015 to 2017. And though their loans to coal companies haven’t quite reached earlier levels, Goldman Sachs and Bank of America each added new coal loans last year, the analysis shows. Citigroup made more such loans in 2016 and 2017 than it did in 2015, though well below its 2014 figure.

Combined, the five banks issued about $1.5 billion in new coal-related loans last year, according to Rainforest Action Network.

The analysis includes loans to companies like Glencore and BHP Billiton, which produce commodities like copper and oil in addition to coal. It weights each loan based on the percentage of the company’s business that comes from coal. Fifteen percent of Glencore’s assets are in coal, for example, so a $229 million loan that Bank of America made to Glencore last year was given a value of $34 million.

The analysis looked only at new loans, not at the banks’ overall exposure to the coal industry.

The banks made their pledges around the time that world leaders negotiated the Paris agreement to reduce carbon emissions. Some of the banks vowed to curb lending to new coal-fired power plants in wealthy countries and to plants that did not use pollution-mitigating technology.

In November 2015, for example, Morgan Stanley said it would reduce financing for projects using “mountaintop removal,” in which mountains are dynamited to reveal coal seams. In March 2016, JPMorgan said it would eliminate such financing, as well as stop lending to new coal mines.