Sustainable finance under scrutiny amid Barclays controversy
Overly flexible guidelines may be allowing banks to fund fossil fuel expansion under sustainability labels.
Sustainable finance activities are again under scrutiny after a Barclays investor said the bank helped raise US$41 billion in sustainability-linked finance for fossil fuel companies in 2023.
A report by The Bureau of Investigative Journalism (TBIJ) released this week highlights âdeeply problematicâ sustainable finance practices by banks, with evidence that Barclays provided part of its US$1 trillion sustainable finance target to fossil fuel companies.
