Stranded fossil fuel assets could cause $141bn in losses for UK economy by 2040
UK is more exposed than US and China, UKSIF report finds
oil & gas
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Industry welcomes UK government’s decision to not fight oil field legal challenges
Although the decision is ‘significant’ there is still no guarantee the development won’t go ahead
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Less than 10% of top oil and gas companies report Scope 3 emissions from their investments
Leads to discrepancies in investment portfolio carbon footprinting
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Investor accuses Barclays of greenwashing for calling billions in fossil fuel funding ‘sustainable finance’
Comes as 2024 Banking on Climate Chaos report shows Barclays increased fossil fuel spending in 2023
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Judge banks on what they do, not what they say
Banks need to walk away from key clients to put oil and gas policy into practice