Climate warning
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HSBC

Climate warning

HSBC and Natwest defy their commitment to align their activities with the net zero climate goal

Two prominent UK high street banks are jn the limelight for defying their commitment to align their activities with the net zero climate goal by allegedly financing the expansion of fossil fuels in the North Sea. Despite signing a pledge to support the net zero goal, HSBC and NatWest have reportedly extended tens of millions in financing to Ithaca Energy, a British oil and gas company involved in the development of the controversial Rosebank oilfield northwest of the Shetland Islands. Lloyds, another major high street bank, initially provided financing but has since reduced its involvement by selling off the debt. A coalition of over 80 organizations, including Global Witness, Greenpeace, and the Rainforest Action Network, has penned letters to the banks' chief executives urging them to halt funding to Ithaca and sever ties with the company.



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  • Ann Nyambura

    2 w

    It's disappointing that major banks continue to invest in fossil fuel projects.

    • George Kariuki

      2 w

      This is so disappointing! Huge banks like HSBC & NatWest talking a big game on #NetZero but then funding MORE fossil fuels?

      • We Don't Have Time

        2 w

        Dear Rukia Ahmed Abdi Your climate warning has received over 50 agrees! We have reached out to HSBC by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

        • Jane Wangui

          2 w

          All companies should take responsibility for their own actions...they should clean up their own mess ..if not appropriate measures should be taken to ensure that they stop operating

          3
          • Esther Wanjiku

            3 w

            These mega finance institutions think they can go on operating with impunity ,we must keep the pressure going.

            3
            • Princess

              3 w

              Such actions undermine the progress towards combating climate change and raise concerns about the sincerity of their environmental pledges.

              4
              • Saustine Lusanzu

                3 w

                This is not acceptable at all costs! Investing in fossil fuels is killing our own planet and harming nature! Let's keep sending messages until the financing stops!!

                11
                • Rashid Kamau

                  2 w

                  @saustine_lusanzu Climate change is the single biggest health threat facing humanity,and we must keep the fight on.

                  1
                • Elizabeth Gathigia

                  3 w

                  It's heartbreaking to see financial institutions backtracking on their climate commitments, they don't care what happens to the planet

                  11
                  • Saustine Lusanzu

                    3 w

                    @elizbeth_gathigia They must invest in sustainable projects such as renewable energy, we must unite and amplify our voices to stop this!

                    5
                    • Rashid Kamau

                      2 w

                      @elizbeth_gathigia The financial institutions worldwide should be having a positive impact on tackling climate change.

                      1
                    • walter lungayi

                      3 w

                      So disappointing!! It's important for companies to uphold their commitments towards achieving the net zero climate goal to ensure a sustainable future for all. Actions speak louder than words, and it's important for businesses to demonstrate their dedication to combating climate change through tangible efforts and results.

                      8
                      • Saustine Lusanzu

                        3 w

                        @walter_lungayi I think we must keep pushing for the Eco side law to ensure companies are held accountable for causing harm

                        5
                        • Rashid Kamau

                          2 w

                          @saustine_lusanzu There should be laws to ensure companies are held accountable when their actions harm people and the planet.

                          1
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