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Bank Policy Scan: Banco Santander is backtracking on its fossil fuel commitments

Banco Santander removed some of its already-weak corporate finance restrictions for financing oil and coal companies

The policy change On July 3, 2025, Banco Santander (Spain) updated its Environmental and Social Risk Management Policy. The previous version of this policy document was published on March 7, 2025. Why this is important In April 2021, Banco Santander became a founding member of the Net-Zero Banking Alliance (NZBA) and committed to reduce the greenhouse gas emissions attributable to its lending and…

2025-07-30 | BankTrack

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Bank Policy Scan: Banco Santander is backtracking on its fossil fuel commitments

Banco Santander removed some of its already-weak corporate finance restrictions for financing oil and coal companies

2025-07-30 | BankTrack

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UK human rights watchdog accepts complaints against Barclays and HSBC over private prison investments

2025-07-25 | New York, NY | Nijmegen, Netherlands | BankTrack, Coalition for Immigrant Freedom, Worth Rises

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New bank standard says financing metallurgical coal expansion is not aligned with climate science

Consensus grows that banks must end finance for metallurgical coal

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2025-07-23 | Julia Hovenier – BankTrack

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Deforestation Gains Long-Overdue Recognition in Financial Climate Standards – But Key Loopholes Remain

2025-07-22 | Forests & Finance

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UN urged to investigate allegations of severe Human Rights violations committed by Mozambique Security Forces at gas site

2025-07-21 | Friends of the Earth Europe

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LNG Ship Bunkering: A High-Risk Bet in a Declining Market

Leading banks are extending their fossil fuel exclusion policies to include maritime shipping assets and high-risk gas projects.

2025-07-21 | Turtle Island Restoration Network

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International NGOs call on banks and investors not to finance a vast new pulp mill in Estonia

2025-07-17 | Estonia | BankTrack, EPN, Estonian Council of Environmental NGOs (EKO), Fern

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Five civil society groups call out corporate power and financial backing behind global food injustice in submission to UN Special Rapporteur

2025-07-16 | Nijmegen | BankTrack, Foodrise, Friends of the Earth US, Institute for Agriculture and Trade Policy (IATP), Rainforest Action Network

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HSBC exits banking climate coalition – ShareAction response

Another troubling signal around the bank's commitment to addressing the climate crisis.

2025-07-11 | ShareAction

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Spotlight

Banking on Climate Chaos 2025 is out now
Banks fossil fuel finance totals $869 billion in 2024, a dramatic increase in financing

Tell Big Banks: Stop Rolling Back Climate Commitments
Take action with Stand.Earth - call out Wells Fargo for undermining a just energy transition, and call on other Wall Street Banks not to follow suit.

BankTrack's Human Rights Response Tracking Database
Explore bank responses to human rights allegations from 282 communications between civil society groups and banks.

Target Dodgy Deals

Glencore

Switzerland | company

Mozambique LNG

Mozambique | project

Adani Group

India | company

ArcelorMittal

Luxembourg | company

JSW Utkal Steel plant and captive coal power station

India | project

Jadar lithium mine

Serbia | project

East African Crude Oil Pipeline (EACOP)

Uganda | project

Perusahaan Listrik Negara (PLN)

Indonesia | company

All Dodgy Deals

Focus banks

KCB Bank

Kenya

Kenya's KCB committed $200 million to the East African Crude Oil Pipeline (EACOP). When 11 peaceful activists attempted to deliver a letter about this, they were lured into a basement where they were ambushed and arrested on false charges.

Bank Mandiri

Indonesia

TuK Indonesia has taken Bank Mandiri to court, demanding an immediate halt to financing of palm oil companies engaged in environmental destruction and human rights violations in Indonesia. In June, BankTrack and other groups submitted an amicus curiae letter in support of the lawsuit.

JPMorgan Chase

United States

JP Morgan Chase is the largest fossil fuel financier in the world, committing $53.5 billion to fossil fuel companies in 2024, including $27.8 billion to the top fossil fuel expanders, and topping also the increase in fossil finance from 2023 by adding $15 billion in 2024.

HSBC

United Kingdom

HSBC left the Net-Zero Banking Alliance on July 11th. Earlier this year, the bank already lowered the ambition of its Thermal Coal and Energy policies.

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