Liquefied natural gas: top banks’ policies not solid enough

Reclaim Finance asserts that the top 60 banks provided $122.2 billion to major LNG firms between 2016 and 2022, with most lacking policies to prevent further support. The report highlights that current LNG terminal developments could lead to a 235% capacity increase and 1.9 GtCO₂ of overshoot relative to IEA net zero goals. It criticizes European banks for continuing to finance import terminals despite exceeding current demand, risking long-term gas lock-in.

• Global LNG capacity expansion is significantly exceeding climate goals; proposed, approved, or under-construction terminals would result in a 235% increase in capacity and 1.9 GtCO₂ of overshoot compared to the IEA's net zero pathway as of 2022.
• Major financial institutions provide substantial funding to the LNG sector, with the top 60 banks providing $122.2 billion to the largest LNG operators and developers between 2016 and 2022.
• Bank policies regarding LNG are largely inadequate; among the 100 largest banks, only La Banque Postale has a strong exclusion policy for the midstream value chain. Other banks, such as ING, use vague restrictions that do not comply with IEA guidelines.
• European banks continue to finance LNG import terminals despite the fact that developed capacity in Europe largely exceeds current demand, creating a risk of long-term gas lock-in for the region.

APA

Martin, L. (2024). Liquefied natural gas: top banks’ policies not solid enough. Reclaim Finance. https://reclaimfinance.org/site/en/2024/01/25/liquefied-natural-gas-top-banks-policies-not-solid-enough/

Chicago

Martin, Léo. Liquefied natural gas: top banks’ policies not solid enough. Reclaim Finance, 2024. https://reclaimfinance.org/site/en/2024/01/25/liquefied-natural-gas-top-banks-policies-not-solid-enough/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=Liquefied natural gas: top banks’ policies not solid enough |publisher=Reclaim Finance |date=25 January 2024 |url=https://reclaimfinance.org/site/en/2024/01/25/liquefied-natural-gas-top-banks-policies-not-solid-enough/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2024liquefied, author = {Martin, Léo}, title = {{Liquefied natural gas: top banks’ policies not solid enough}}, publisher = {Reclaim Finance}, year = {2024}, month = jan, url = {https://reclaimfinance.org/site/en/2024/01/25/liquefied-natural-gas-top-banks-policies-not-solid-enough/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }