'Hypocrisy': Why top banks are getting slammed for working with Cambo oil field operators

Cecilia Keating
clock • 5 min read
An offshore oil production platform in North Sea | Credit: iStock
Image:

An offshore oil production platform in North Sea | Credit: iStock

ClientEarth warns banks that fail to cut ties with firms engaged in oil and gas development face myriad reputational, litigation, and transition-related risks

HSBC, Barclays, and Standard Chartered are today under fire for their support of the companies behind the controversial Cambo oil field project, with environmental lawyers warning such work opens banks...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech development
  • Tap into our extensive archive of exclusive articles, news, analysis and guide
  • Access to our new BusinessGreen intelligence service, providing you with
  • > Exclusive in-depth case studies
  • > Policy briefings, white papers and reports on market trends that are shaping the direction of the net zero transition
  • Our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Online and interactive meetings with BusinessGreen’s editors to discuss the crucial stories and trends from the past month

Choose the membership package that's right for you and your organisation, via our 3 membership levels.

Join now

 

Already a BusinessGreen member?

Login

More on Investment

Deliciously Ella owner saves vegan food business Allplants from administration

Deliciously Ella owner saves vegan food business Allplants from administration

The Allplants brand and assets are set to be added to Mills' Plants business, after the group fell into administration in November last year

clock 14 February 2025 • 3 min read
'Persistent failure': How UK pension funds are exposing savers' money to escalating climate risks

'Persistent failure': How UK pension funds are exposing savers' money to escalating climate risks

Action from pension funds to phase out investments linked to fossil fuels, deforestation, and land-use change remains badly 'inadequate', warns the Make My Money Matter campaign

Michael Holder
clock 13 February 2025 • 7 min read
UK investors and pension providers worth £1.2tr back climate stewardship statement

UK investors and pension providers worth £1.2tr back climate stewardship statement

The Asset Owner Statement on Climate Stewardship - led by the People’s Pension, Brunel Pension Partnership and Scottish Widows and others - sets out expectations for the sector on tackling the climate crisis

Holly Roach
clock 13 February 2025 • 4 min read