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2 min read Banking

Report highlights UK banks’ fossil fuel exclusion loopholes

NatWest was the only bank to provide more financing to green companies than to fossil fuels between 2020 and 2024.
Melodie Michel
Melodie Michel
Report highlights UK banks’ fossil fuel exclusion loopholes
Photo by Bit Cloud on Unsplash

All four top UK banks continued finance to fossil fuel expansion between 2020 and 2024 despite announcing fossil fuel exclusion policies, a new report has found.

Barclays, HSBC, Lloyds and Natwest have all set net zero targets and limits on direct financing to fossil fuel expansion – yet they collectively provided £119 billion to the fossil fuel sector between 2020 and 2024, according to a new report by InfluenceMap. 

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