Report Slams European Banks For Financing Oil And Gas

European banks led by HSBC, Barclays, and BNP Paribas continue to provide financing for oil and gas exploration despite government efforts to reduce economies’ reliance on fossil fuels, a report by a nonprofit investment organization has said. “Climate scenarios such as the IEA’s Net Zero Emissions pathway show that there is no room for investment in new oil & gas fields if the world is to limit warming to 1.5C,” the report, by ShareAction, said. “Yet 25 European banks, all committed to Net Zero goals, provided $55…