UK banks put £75bn into firms building climate-wrecking ‘carbon bombs’, study finds

Exclusive: Britain is key financial hub for destructive fossil fuel mega-projects, according to research

Banks in the City of London have poured more than $100bn (75bn) into companies developing carbon bombs" - huge oil, gas and coal projects that would drive the climate past internationally agreed temperature limits with catastrophic global consequences - according to a study.

Nine London-based banks, including HSBC, NatWest, Barclays and Lloyds are involved in financing companies responsible for at least 117 carbon bomb projects in 28 countries between 2016 - the year after the landmark Paris agreement was signed - and 2023, according to the study.