Survey: UK banks could lose millions of customers unless they get tougher on climate
A survey of more than 2,000 bank customers in the UK has found that more than one in ten would switch banks if they thought their choice of company was investing heavily in fossil fuels. The impact could be significant for big high-street brands, that could lose millions of customers each.
Along with Barclays, HSBC has often been the target of environmental campaigners
The ‘Banks on Our Future’ survey, carried out on behalf of campaign group Market Forces, polled 1,000 Barclays customers and 1,000 people banking with HSBC.
Both banks have come under fire from climate campaigners and from shareholders in recent years over their investments in oil, gas, coal and tar sands. The Rainforest Action Network (RAN) claims that they have jointly invested more than £149bn in fossil fuels since the Paris Agreement was ratified in 2015.
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