Loading...
BETA – We are refining the platform. Your feedback helps us improve. Share feedback
Loading...
Publish your own articles and insights on Citable ESG
Pro organisations publish unlimited content, strengthening their AI Citability Score and visibility to procurement teams, investors, clients, customers, partners, and followers.
UK banks have provided $8.3bn in coal financing since COP26 in 2021 – more than double German banks' $4.9bn and nearly two-and-a-half times French banks' $3.4bn over the same period. Barclays and HSBC lead the charge. This matters because COP26 explicitly committed signatories to "phase down" coal. The UK hosts the world's largest financial centre and sets itself up as a climate leader; the data suggests neither commitment translates into capital allocation. German and French regulators have moved faster on coal exit criteria. UK banks continue to face minimal enforcement pressure despite sector-wide net-zero pledges. Many of those pledges exclude scope 3 emissions – the financing decisions that fund coal mines, power plants, and supply chains. Until bank lending criteria align with stated climate targets, and until regulators demand specifics on coal exposure and retirement timelines, these pledges remain marketing. The report exposes a gap between what UK institutions say and what their cheque books do.