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HSBC, NatWest and Lloyds Among Lenders Ending New Coal Financing

Coal Operations in NSW as Australia's Government Seeks Commitment fort Power Generation
Photographer: David Gray/Bloomberg

Banks including HSBC Holdings Plc, NatWest Group Plc and Lloyds Banking Group Plc have committed to ending support for new coal power plants, part of a U.K. initiative to phase out the biggest contributor to climate change.

The lenders will end all investment in new coal power generation domestically and internationally as part of the Powering Past Coal Alliance, according to a U.K. government statement late Wednesday.