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Barclays has financed $5.6bn in new fossil fuel projects since January
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Barclays has financed more in fossil fuel projects than any of the UK’s largest banks in the months leading up to the Cop26 climate talks in Glasgow, according to a report by climate finance campaigners.
The bank financed $5.6bn (£4.1bn) for new fossil fuel projects from January 2021 to the eve of the UN climate summit, Market Forces found, despite growing international warnings that any new fossil developments would destroy any chance of avoiding a catastrophic climate breakdown.
Barclays’ multibillion pound support for fossil fuel projects was ranked ahead of that of HSBC, which financed $5.3bn this year, and Standard Chartered, which made $4.3bn available.
The report found Barclays financed a $194m bond to the Canada-headquartered pipeline
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