Lloyds Bank
#5 in the UK for fossil fuel financing.
Lloyds needs to do better!
Lloyds continues to finance fossil fuel companies that are driving climate change. It has inadequate policies in place to stop it financing fossil fuel expanders.
Whilst its fossil fuel finance is much smaller than others like Barclays, it must do more to end finance to fossil fuel companies not aligned to the 1.5C degree global target.
Lloyds has an opportunity to show leadership and we hope to see further improvement.
While you’ve been stashing away money for a car or a weekend get-away, Lloyds Bank has been using your savings to lend to some very questionable fossil fuel friends.
And it's not just a little here and there, we’re talking about $ 15.1 billion USD in the 7 years since 197 countries agreed to drastically reduce their greenhouse gas emissions in the Paris Agreement.
In October 2022, Lloyds pledged to stop financing fossil fuel projects but made no such promise for fossil fuel companies. This means that Lloyds may stop financing some oil rigs in regions like the Arctic ocean or Antarctica territories, but will still finance companies whose whole purposes is building and operating oil rigs in exactly those same places. Banks like Lloyds sometimes use project divestment pledges like these as a first half-step to more meaningful commitments but they have no material impact. The British bank must now address the issue of oil and gas expansion more broadly, by extending its exclusion scope to all financial services for companies with expansion plans.
We were founded on the belief that banks have had an easy time from their customers for too long. Our mission is to encourage as many people as possible to take a stand - to refuse to let their money fuel environmental destruction any longer. Join us in building this movement by pressuring your bank to do better, or by taking your money to somewhere that cares about our planet's future.
Start to Bank Green Today
Banks live and die on their reputations. Mass movements of money to fossil-free competitors puts those reputations at grave risk. By moving your money to a sustainable financial institution, you will:
Send a message to your bank that it must defund fossil fuels
Join a fast-growing movement of consumers standing up for their future
Take a critical climate action with profound effects