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

BYD shares fall after Buffett's Berkshire Hathaway exits stake

BYD shares fall after Buffett's Berkshire Hathaway exits stake

Share price drops over three per cent in early trading, as filings confirm investment giant has sold its stake in the electric vehicle pioneer

Linus Uhlig, Investment Week
clock 22 September 2025 • 1 min read
London Stock Exchange: Investor portfolios becoming less carbon intensive

London Stock Exchange: Investor portfolios becoming less carbon intensive

But new analysis confirms aggregate emissions for key investment benchmarks are still rising

James Murray
clock 19 September 2025 • 2 min read
Clean energy investment giant Gresham House to buy SUSI Partners

Clean energy investment giant Gresham House to buy SUSI Partners

Deal set to take assets under management to over £10bn and boost company's energy transition investment capabilities

Patrick Brusnahan, Investment Week
clock 19 September 2025 • 1 min read