Al Mayadeen’s correspondent: An Israeli aggression targets the Yarmouk Basin area in the western countryside of Syria’s Daraa province
United Kingdom Maritime Trade Operations (UKMTO) received reports of an incident 150 NM northwest of Yemen’s Hodeidah
IRGC: The criminal Israeli operation came after “Israel’s” irreparable defeats and the steadfastness of the people of Gaza
IRGC: We offer our condolences to the leader of the Revolution on the martyrdom of Iran’s senior military advisors who were veteran freedom fighters of the Islamic Revolution
The Iranian ambassador in Damascus to Al Mayadeen: The attack reflects the reality of the entity that does not recognize any international laws and is ready to commit anything that goes against humanity
Iranian Ambassador to Damascus Hussein Akbari to Al Mayadeen: We will continue to stand by the resisting people, and we do not fear the criminality of this entity
Syrian FM Faysal Mekdad from the Iranian Embassy headquarters in Damascus: The Israeli occupation entity will not be able to affect relations between Iran and Syria
White House: Aware of reports of Iranian Consulate in Damascus hit by Israeli airstrike on Monday
Amir-Abdollahian holds “Israel” responsible for the consequences of the attack: State media
Iranian FM Amir-Abdollahian says Israeli attack on Iranian consulate in Damascus is a breach of all international conventions: State media
- By Al Mayadeen English
- Source: News Websites
- 22 Mar 2024 12:32
Three of the UK’s high street banks have been funding a large oil conglomerate with millions to pursue exploitative activities in the North Sea.
HSBC and NatWest, two of the United Kingdom’s largest banks, have been exposed and accused of funding fossil fuel expansion in the North Sea despite signing a pledge to comply with net zero climate goals, The Guardian reported.
Another high street bank, Lloyds, was also involved in similar funding activities but slowed them down since signing the agreement.
The three banks are part of the Net Zero Banking Alliance and have pledged to cease direct financing for new oil and gas projects and to align their lending and investment portfolios with net zero greenhouse gas emissions by 2050 at the latest.
However, a report called Banking on Climate Chaos 2023 indicates that between 2016 and 2022, Lloyds, HSBC, and NatWest provided significant financial support to Ithaca Energy, with Lloyds subsequently selling off its debt facilities to the company and having no ongoing lending to Ithaca.
Ithaca Energy is a British oil and gas conglomerate that has been majorly involved in the exploitation of the Rosebank oilfield northwest of the Shetland Islands and has been funded with between $60 million to $78 million from each of the three banks.
Ithaca has invested billions in developing Rosebank
Rosebank is the UK’s largest untapped oil field and holds around 500 million barrels of oil, which could emit 200 million tonnes of CO2 if fully utilized. Ithaca has been investing billions into developing Rosebank and aims to kickstart production by 2026, however, it has not officially declared its intentions to venture into renewables production, prompting critics to coin it a “pure play” company.
It is worth noting that the UK authorized the exploitation of Rosebank in September 2023.
The Free 