UK banks’ support for coal industry has risen since 2015 Paris climate pact

Lenders including and provided services and loans worth £21.9bn in 2019

British banks’ financial support for companies involved in the industry has risen since the 2015 Paris agreement, despite their pledges to wind down financing for a sector seen as a significant obstacle to tackling global heating.

UK lenders provided loans and underwriting services worth $30.3bn (£21.9bn) to companies that sold or burned , or provided industry services, during 2019, the latest year for which complete data is available, according to research by the campaign groups Reclaim Finance and Urgewald. That represented a significant increase compared with $21.5bn in financing provided in 2016.

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