24 February, 2024
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HSBC, Barclays still funding fossil fuel projects despite green pledges: ShareAction report

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Tue, 2022-02-15 15:18

RIYADH: HSBC, Barclays, and Deutsche Bank are still funding new oil and gas expansion projects, despite being part of a green banking group, according to UK campaigning organization ShareAction.

According to a report from the group, big banks in Europe have invested over $400 billion in companies expanding oil and gas production since 2016. 

The report added that investors should urge banks to demand green plans from fossil fuel firms before giving funds. 

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