Major banks of the world continue to invest in oil and gas projects

The company ShareAction conducted a study. Its results showed that the world's major banks continue to invest in new projects in the oil and gas sector, despite the general trend of gradual abandonment of these types of energy. Reported by vnknews.com.

Earlier, the IEA stated that in order to achieve zero harmful emissions, it is necessary to abandon the implementation of new projects in the field of gas and oil production. However, the ShareAction data indicate a significant investment in this sector of the global economy. According to available information, HSBC invested almost $8.7 billion in 2021. Barclays' investments in new projects are estimated at $4.5 billion. Deutsche Bank's investments reached $5.7 billion.

The total amount of investments of 24 banks belonging to the Net Zero Banking alliance exceeded $33 billion. ShareAction analysts believe that banks have the right to invest money in oil and gas projects only under one condition. Companies must provide them with approved environmental protection plans.