Barclays bank'stops directly financing' new oil and gas projects. A new policy which also targets the most polluting companies.
The British bank is not the only one to want to cut off the tap to the hydrocarbon industry, at least in part. Recently, HSBC and BNP Paribas have also unveiled such plans and promised to finance more renewable energies. The measure is also contested by environmental NGOs who protest that it does not apply to already existing projects. The Barclays bank announced on February 9, 2024 that it would “stop directly financing” new oil. projects.