Barclays to end direct financing of new oil and gas fields

Barclays has announced it will no longer provide direct funding for new oil and gas projects.

The banking giant also says it will restrict lending to energy businesses that plan to expand their fossil fuel production.

Barclays is a major lender to the fossil fuel industry, but has been coming under mounting pressure to curb its support for the sector.

Campaign groups welcomed the move, but insisted it did not go far enough.