ESG & Investing
Christian Nonprofit Ditches Barclays Over Oil and Gas Financing
UK charity Christian Aid said it would be moving its banking to Lloyds over Barclays’ fossil fuel links.
The Barclays Plc headquarters in London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Christian Aid, a British nonprofit, announced that it will no longer bank with Barclays Plc due to the bank’s funding of oil and gas projects.
The 78-year-old charity has kept its money with Barclays since 2015. Between 2016 and 2022, Barclays financed some $190 billion in fossil fuel projects, according to an analysis by the Rainforest Action Network. Those included projects for fracking and for drilling in the Arctic.