Rejected petition Legislate against banks continuing to invest in fossil fuels.

Legislate to oblige all banks to transition away from financing the coal, oil and gas industry by 2030.

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The commitment at COP26 that financial institutions would reach net-zero by 2050 is far from enough. BankTrack has said that, in order to have only a 50% chance of limiting global heating to below 1.5 degrees, global carbon emissions must be more than halved by 2030. To be possible, banks must stop financing the fossil fuel industry in this decade. This is not happening. Banks around the world have invested over $3 trillion into fossil fuel in the past five years. The time to legislate is now.

This petition was rejected

Why was this petition rejected?

It’s about something that the UK Government or Parliament is not directly responsible for.

We can't accept your petition because the UK Government and Parliament aren't responsible for the issue you raise. The UK Government and Parliament aren't responsible for directing investments by banks.

We only reject petitions that don’t meet the petition standards.

Date submitted 3 November 2021
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