Are Europe's leading banks flouting their net zero pledges?

Michael Holder
clock • 9 min read
HSBC, Barclays, BNP Paribas and Deutsche Bank are accused of pumping billions into expanding fossil fuel expansion | Credit: iStock
Image:

HSBC, Barclays, BNP Paribas and Deutsche Bank are accused of pumping billions into expanding fossil fuel expansion | Credit: iStock

New analysis reveals Net Zero Banking Alliance members funnelled $33bn towards expanding oil and gas production over past year, but banks insist they are working to reduce their exposure to fossil fuels

Scores of Europe's leading banks have been accused of continuing to flout advice from climate scientists and economists by pumping tens of billions of dollars into expanding oil and gas production last...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Investment

National Wealth Fund provides £300m loan guarantee to Haweswater Aqueduct Resilience Programme

National Wealth Fund provides £300m loan guarantee to Haweswater Aqueduct Resilience Programme

Rachel Reeves hails deal as evidence of how new government-backed fund is catalysing investment and enhancing climate resilience

James Murray
clock 22 August 2025 • 2 min read
Survey: Younger people leading drive towards greener pensions

Survey: Younger people leading drive towards greener pensions

OVO-commissioned study reveals under 35s are nearly three times more likely than those over 65 to know exactly where their pension is invested

BusinessGreen staff
clock 21 August 2025 • 2 min read
Meatable acquires Uncommon's cultivated meat platform

Meatable acquires Uncommon's cultivated meat platform

Lab grown meat pioneer pledges to progress and scale up Uncommon Bio's alternative protein innovation, after Cambridge-based firm shifts focus to therapeutic products

Stuart Stone
clock 21 August 2025 • 4 min read