Some of Britain's largest banks are facing scrutiny after it emerged they relied on a flawed net zero study that may have shaped how they assess climate risk and which companies they lend to.
Lloyds, NatWest and HSBC have all acknowledged using analysis produced by the Network for Greening the Financial System (NGFS), a global body that provides climate guidance to banks and regulators. That analysis was partly based on an academic paper which has since been retracted after serious errors were identified.
