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The Guardian - UK
The Guardian - UK
Environment
Helena Horton Environment reporter

No major banks have yet committed to stop funding new oil, gas and coal, research finds

Coal Oil TPI
Claymore oil drilling platform in the North Sea off the coast of Aberdeen
The report said ‘banks are still at an early stage of their transition’ to decarbonisation. Photograph: Simon Price/Alamy

No major bank has yet committed to stop funding new oil and gas fields or coal capacity, research has found.

Most banks that have recently updated their climate policies have weakened them, according to the research by the TPI Global Climate Transition Centre (TPI) at the London School of Economics and Political Science (LSE).

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