Research conducted by Ethical Consumer has found that Barclays, HSBC and Lloyds all offer banking services to companies with licenses to test new potential fracking sites in the UK.
The table below lays out which bank is used by which fracking company and for what purpose.
|Fracking companies||Land Blocks Licensed in 2015||Banking services link||Already Active exploration site|
|Ineos||38||Barclays acted as “Security
Agent” in transactions 
|ENGIE Supply (was
|IGas Energy||9||Barclays ||Nottinghamshire|
|Egdon Resources||6||HSBC |
|Third Energy||5||A Barclays subsidiary owns
74% of Third Energy 
|Yorkshire – permission
given to frack May 2016
|Infrastrata||Lloyds Banking Group through
Bank of Scotland 
We looked at the 10 fracking companies that had gained the most in the latest licensing round. Banking details were not found for South Western Energy (23 blocks), Hutton Energy (6 blocks), or Aurora Energy Resources (5 blocks).
Previous research on banks and fracking
The ‘Frack Off’ network list Barclays and HSBC as major players pushing fracking in the UK.
Third Energy, with Barclays as its ultimate parent company, was given planning permission in May 2016 to frack for shale gas in Ryedale, North Yorkshire. Actual fracking has not taken place in the UK since 2011. HSBC is also listed as a shareholder in fracking firm Dart Energy, to which it has lent £63 million. HSBC also helped BG Group raise €1 billion.
Move Your Money listed the position on fracking of the ‘big five’ UK banks, which revealed that Lloyds had also raised and loaned money for fracking companies, and is a shareholder in them. RBS has said that it is committed to finance fracking. Santander said its energy policy is not public.
What can be done?
You may want to look at closing any accounts you have with the banks that support fracking and to write to them telling them why.
The Petroleum Exploration Development Licences (PEDLs) given out in December 2015 don’t, in themselves, give a company the right to begin fracking. If the initial exploration finds what they are looking for, a company still has to go through many stages of surveys, land acquisition, planning applications and consultation. All the currently active exploration sites in the UK have the community mobilising against them.
And according to Frack Off, if a license has been given in your area, “The sooner you start raising awareness and get people to take action, the better your chance of slowing them down and stopping them...The single most significant factor in what happens next is the community response in your area”.