Lloyds Bank ditches fossil fuel projects in ‘radical reinvention’

The bank will exit relationships with customers who do not meet these new requirements

Lloyds say it will no longer finance fossil fuel projects (PA Wire)

Finance giant Lloyds says it will no longer directly finance fossil fuel projects as part of a “radical reinvention”.

Lloyds Banking Group (LBG) says it will not fund any new gas, oil and coal projects to support the UK’s transition to a sustainable, low-carbon economy.

Other climate concerns such as animal welfare, deforestation, mining, plastic and biodiversity loss will also fall under scrutiny.