UK bank account holders think banks should stop financing fossil fuel expansion
The fossil fuel industry cannot exist without banks.
The International Energy Agency’s Net Zero by 2050 Roadmap shows that we cannot continue to pursue new oil, gas or coal expansion if we want to limit global warming to 1.5°C. Despite this, between 2016 and 2021, HSBC, Barclays, Santander, NatWest and Lloyds funnelled $368 billion into the fossil fuel industry. Put simply, the fossil fuel industry cannot exist without banks – they are playing a critical role in financing the climate crisis. Find out more on our full asks here.
But banks need us as customers – so if you have a bank account with the Big Five, they need you. One customer threatening to leave won’t make them change their ways, but if thousands of us do, that’s how we can create real impact.