'Orderly transition': HSBC ditches new oil and gas financing, Barclays ups clean tech investment goal

Michael Holder
clock • 6 min read
Credit: iStock
Image:

Credit: iStock

Major banks enhance their climate efforts, with HSBC promising to 'phase down' fossil fuel finance and Barclays hailing success of green investments to date

Two of the UK's leading banks have today moved to bolster their climate commitments, with HSBC announcing it will no longer finance new oil and gas fields and Barclays confirming a new target to ramp up...

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

Michael Holder
Author spotlight

Michael Holder

Environmental journalist and editor

View profile
More from Michael Holder

How can businesses accelerate transition plans in an age of uncertainty?

Science Based Targets for Nature 2.0: SBTN unveils 'pragmatic' guidance updates

More on Investment

'Investors are not abandoning sustainability': Three quarters of retail investors expect sustainability to inform decisions
Investment

'Investors are not abandoning sustainability': Three quarters of retail investors expect sustainability to inform decisions

Major new report from Aberdeen Investments insists 'sustainable investing is evolving, not retreating'

James Murray
James Murray
clock 13 October 2026 • 4 min read
Generation gap in ESG investing widens as performance worries increase
Investment

Generation gap in ESG investing widens as performance worries increase

Association of Investment Companies survey reveals growing hostility to ESG investing, especially among older investors, which is being fuelled by concerns over returns and confusion over what the term means

Michael Nelson, Investment Week
clock 13 October 2026 • 2 min read
SDCL's Jonathan Maxwell: 'The skills we need are mostly not green at all'
Investment

SDCL's Jonathan Maxwell: 'The skills we need are mostly not green at all'

Jonathan Maxwell explains why permission, not capital, is the 'constraint that bites', and why the industries making the fastest progress are the ones with the biggest energy bills

Stuart Stone
Stuart Stone
clock 13 October 2026 • 9 min read