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In extremely positive news, Europe’s biggest bank, HSBC, is set to step up efforts to cease funding for most new coal plants, oil sands, and arctic drilling projects. This puts the bank among a host of other major investors to begin turning away from fossil fuels. It also means that, of all the major UK banks, Barclays is now the only one that remains committed to the status quo with its active funding of things like new tar sands pipelines.

BREAKING: @HSBC, Europe’s biggest bank has just announced that it will no longer provide funding for new tar sands pipelines. #stoppipelines #StopKM pic.twitter.com/TK4ceLYlkl

— Greenpeace UK (@GreenpeaceUK) April 20, 2018

The news comes as investors pressure banks to align with the Paris Agreement, as in the recent change of policy at ING and BNP Paribas.

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*Review the latest ethical rankings for UK banks by visiting the banking section of The Good Shopping Guide.

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