Barclays accused of greenwashing over financing for Italian oil company
by Natasha Ion and Wil Crisp from Environment | The Guardian on (#6MC4S)
Exclusive: Environmental groups say bank is misleading public over sustainable' financing for Eni as company vastly expands fossil fuel production
Barclays is being accused by environmental groups of greenwashing after helping to arrange 4bn (3.4bn) in financing for the Italian oil company Eni in a way that allows them to qualify towards its $1tn sustainable financing goal.
Environmental groups have said the London-based bank is deliberately misleading the public by labelling the financial instruments as sustainable" at the same time that Eni is in the midst of a multibillion-pound fossil fuel expansion drive designed to increase production.
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