Barclays to Halt Direct Financing of New Oil, Gas Projects
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Barclays Plc plans to halt the direct financing of new oil and gas projects, as the UK bank expands the scope of assets that will find it harder to gain access to capital in future.
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Published Feb 09, 2024 • 3 minute read
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(Bloomberg) — Barclays Plc plans to halt the direct financing of new oil and gas projects, as the UK bank expands the scope of assets that will find it harder to gain access to capital in future.
The plan entails restrictions for new and non-diversified oil and gas clients engaged in expansion, according to an emailed statement. Barclays said its new policy sets out “clear expectations of transition strategies and decarbonization requirements for energy clients.”
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Bloomberg News
2024-02-09 09:05:32
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