Some of Britain’s largest banks contributed billions of pounds to oil and gas financing last year, while only two were found to meet high moral standards, showing analysis by a consumer group.
Which one? Wealth Said that consumers would not know that some high road lenders were investing “ever in large amounts in harmful industries”.
Who? Analysis of research follows that the world’s largest banks greatly increased their fossil fuel finance in 2024.
It marks a change in the direction after 2021 since the low of financing in previous years.
Top 65 lenders committed $ 869 billion (£ 648 billion) in funding fossil fuel, the banking on climate Caose report said in June.
Joe?, Non-Governmental Research Groups as well as reconstructing finance and global canopy, examined the environmental policies of 16 current account providers in the UK.
It highlighted two banks-co-operative banks and Triandos Bank-Occasion-which had no risk to fossil fuels in their banking activities and set themselves high moral standards.
Which one? Two lenders supported a “Eco provider” for their green credentials.
It was found that Tryodos was unique in publishing its entire debt portfolio to see where their money is being spent.
Meanwhile, seven banks – BarcalageFollow, Danske bankHSBC, Lloyds, Netwest And Santander – Fourteen was found to contribute significantly to fuel financing.
Who? The analysis of JP Morgan has shown that there were coal, oil and gas policies in the chase of Morgan that enable firms to actively expand the operations associated with fossil fuels, while it also changed the requirements of strong forest harvesting for some companies with weak people.
According to the banking on climate Caos report, the bank was the largest fossil fuel financier in the world, which in 2024 used to make fossil fuel companies to $ 53.5 billion (£ 40 billion).
A spokesman for JP Morgan Chase said it was a “major global financer of diverse energy sources” and was a trillion US dollar (£ 750 billion) for the climate initiative by the end of 2030.
Centender found policies that allow it to support its customers to develop new fossil fuel projects, while there is a lack of significant protection for palm oil, kerose, beef and leather.
A spokesperson to the Cennder said that it has been “supporting subsidiaries in their infection in the low carbon economy and for decades financing the creation of renewable energy capacity”.
Who was called Barclay and HSBC? Despite publicly clean energy commitments, to increase its financing of fossil fuel projects last year.
A spokesperson of Barclaylage said: “Many of the economies we serve still depend on traditional energy for reliable and inexpensive power because they infection for renewal.”
The bank said it was committed to its ambition to be a pure zero bank by 2050.
Who? The analysis of the laids and natwests included low in fossil fuels than their peers, with more concrete requirements for companies and transparency in their reporting, but still contributed billions of pounds.
Sam Richardson, who? The deputy editor of Money said: “Many consumers want to make permanent options, but the lack of accountability and transparency in the banking sector can make it difficult to understand where the money of customers is actually going.
“Widely, our latest research has shown that far from progressing in this field, many major banks are rather than environmentally harmful to invest in large amounts in harmful industries.”
He said that the “ECO provider” label highlights banks that have “zero risk for their banking activities” in their banking activities “.