International Energy Agency
Environmentalists want banks to stop funding Shell if it proceeds with the controversial new Jackdaw gas field in the North Sea.
Campaigners argued that the insurance companies had recognised that allowing "new fields to proceed goes against climate science".
Edinburgh-based bank NatWest lent £3 billion to North Sea oil and gas firms between 2016 and 2021 prompting criticism from environmentalists.
29 new oil and gas projects in the UK North Sea could cause one billion tonnes of emissions despite the pausing of the Cambo oil field.
The plan to drill for oil deep under the sea at Cambo, north west of Shetland, is “uneconomic” and would breach international targets to cut climate pollution.
Ten oil companies are planning to invest £6.8 billion in six major new projects in the North Sea in breach of international targets to cut climate pollution.