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UK banks provided $8.3bn in coal financing since 2021, report says
The study says UK banks’ total compares with $4.9bn from German banks and $3.4bn from French banks over the same period.
A study cited by Guardian Business found UK-based banks provided $8.3 billion in coal financing over four years, covering loans and underwriting tied to companies across the global coal value chain.
The report said the figure totals $8.3 billion, or 6.2 billion pounds, since the 2021 COP26 pledges to phase down coal use, and it notes German and French banks provided lower amounts over the same span.
Guardian Business reported that the UK total was largely driven by Barclays and HSBC, which both increased their coal financing between 2022 and 2025 despite high-profile climate and net zero commitments.