The development is “yet another signal to Donald Trump and the rest of the world that, despite their worst laid plans, the era of fossil fuels is coming to a close.”
By for Common Dreams, Published 4-20-2018.
Climate groups applauded HSBC’s announcement that it is moving away from fossil fuels. (Photo: ItzaFineDay/flickr/cc)
In another signal that “the era of fossil fuels is coming to a close,” Europe’s biggest bank, HSBC, announced Friday that it will no longer fund oil or gas projects in the Arctic, tar sands projects, or most coal projects.
The move was cheered by climate campaigners on social media, who said, “This is huge,” and called it “incredible news.”
BREAKING: @HSBC, Europe’s biggest bank has just announced that it will no longer provide funding for new tar sands pipelines. #stoppipelines #StopKM pic.twitter.com/TK4ceLYlkl
— Greenpeace UK (@GreenpeaceUK) April 20, 2018
