Celebrities call on UK banks to stop financing fossil fuels
Business reporter, BBC News
The campaign points to research by environmental charity Rainforest Action Network, which claims that between 2016 and 2021, HSBC, Barclays, Santander, NatWest and Lloyds funnelled almost $368bn towards the fossil fuel industry. "HSBC was this month found to have provided $340m to a company opening a new coal mine in Germany," it said.The campaign, which is also backed by actor Mark Rylance and musician Brian Eno, urges the public to sign an open letter asking the banks to stop directly financing projects that expand fossil fuel use, or end relationships with clients that do.
HSBC told the BBC it no longer provided new finance or advice for new oil and gas fields. It added that "supporting clients in high-emitting sectors to decarbonise will have the most significant impact on emissions reduction".
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