Activists call on Barclays to close ‘fracking loophole’ in energy finance policy
CAMPAIGNERS are calling on Barclays to close what they see as a “loophole” in its energy policy that allows the financing of fracking companies.
Britain’s biggest bank amended its climate change statement in February, pledging to focus capital on supporting energy companies to decarbonise.
It said it would no longer finance new oil and gas projects and would restrict its financing of “pureplay” companies, those that focus exclusively on fossil-fuel extraction and exploration.
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