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Christian Aid slaps top banks with D-grade over environmentally-friendly investments

Barclays, RBS, Lloyds and HSBC - collectively referred to as the Big Four - have each received a "disappointing" D grade for their environmental investment policies in a new report by Christian Aid's senior private sector adviser, Ken Boyce.

Speaking on Premier's News Hour programme, he said: "We were seeing in some cases anywhere from five to ten times the amount of money going in to support fossil fuels verses the renewables industry.

"If we're going to put our climate goals into action, we actually need to be seeing that completely reversed."

An online ComRes poll of more than 2,000 adults for Christian Aid found seven in ten Brits want banks to be legally required to explain how they invest individual and corporate customers' money.

Following it's report, 'Our Future In Their Plans', the organisation launched the 'Big Shift' campaign where bank customers are urged to email their bank and protest against savings being poured into coal, oil and gas projects.

The D grades for the Big Four reflect each banks' failure to bring their investments and lending in line with the target in the recent Paris Agreement of limiting global warming to two degrees celsius.

Mr Boyce added: "Really, it's about understanding how we can do our bit to help the world's poorest people adapt to climate change and how we can help them - who have no savings - how we can ensure that their lives aren't destroyed by the problems caused by climate change.

"I think that's an absolute essential issue for all Christians."

Listen to Ken Boyce speaking with Premier's Aaron James:

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