Investors urge European banks to end new oil and gas financing

However, HSBC said in December that it would stop directly financing new oil and gas fields, joining other banks restricting asset financing, ShareAction noted.

A Barclays spokesperson said the bank believed it could make the greatest difference by working with customers and clients as they transition to a low-carbon economy. BNP Paribas said in an email that it had announced new targets last month to "accelerate the transition to a low-carbon economy", including endingCredit Agricole said it had already ended financing of new oil extraction projects and that it had a plan to reach carbon neutrality by 2050.

Deutsche Bank said it had "significantly reduced" its engagement in carbon-intensive sectors since 2016 and had agreed targets for reducing financed emissions by 2030 and by 2050.

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Investors call on five European banks to end new oil and gas financeEuropean banks risk jeopardising the path to net-zero carbon emissions and the growth of renewable energy unless they stop directly financing new oil and gas fields this year, investors managing assets worth more than $1.5 trillion said on Friday. YE24 investors? do they have their interests in mind? or the people? Well other Muslim banks around the world will get richer than anyone can imagine.
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