Top fossil fuel financier Barclays stops funding new oil and gas projects
The bank's previous climate plan was criticised for lacking a commitment to end new oil and gas expansion.
UK bank Barclays, the world’s seventh largest fossil fuel financier, has revealed a new climate transition plan that includes several new oil and gas restrictions and exclusions.
The updated climate change statement released today by the bank states as of February 9, 2024, Barclays will no longer provide project finance or any other direct financing for oil and gas expansion projects or related infrastructure projects.
