World large banks continue to invest in oil and gas projects

The company ShareAction conducted research. Its results showed that the world’s major banks continue to invest in new projects in the oil and gas sector, despite the general trend of gradual abandonment of these types of energy. Earlier, the IEA said that to achieve zero emissions, new projects in the field of gas and oil production should be abandoned. However, ShareAction data shows significant investment in this sector of the global economy. According to available information, HSBC has invested nearly $8.7 billion in 2021. Barclays’ investments in new projects are estimated at $4.5 billion. Deutsche Bank’s investment reached $5.7 billion. The total amount of investments of 24 banks included in the Net Zero Banking alliance exceeded $33 billion. ShareAction analysts believe that banks have the right to invest money in oil and gas projects only on one condition. Companies must provide them with approved environmental protection plans.

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Arseny Kudrin

Publicist, trader

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