Barclays Lags European Peers in Halt To Funding New Oil and Gas Fields

UK banking giant Barclays has just announced that it will drop direct funding for new oil and gas projects, joining other major European banks in halting the financing of fossil fuel expansion.   Barclays has been one of the top ten banks financing fossil fuels globally since 2016, just after the Paris Agreement was signed, according to the 14th annual Banking on Climate Chaos report published by environmental groups last year. Estimates by climate campaigners, including Rainforest Action Network and Reclaim Finance, showed that…