Barclays drops funding for new oil and gas fields. How do other big European banks compare?
The move sends an ‘important signal’ about the bank’s appetite for fossil fuel financing, but campaigners say there’s still a way to go.
Barclays has announced that it will no longer fund new oil and gas fields, in a “massive win” for the climate campaigners who have been urging it to stop for years.
The British bank is the second biggest funder of fossil fuels in Europe, having been overtaken by French-based multinational BNP Paribas in 2022.
In a new climate change statement on Friday, Barclays unveiled a range of restrictions for its oil major clients which include ExxonMobil, Shell, TotalEnergies, and BP.
Link to | Barclays’ drops funding for new oil and gas fields.