HSBC, Barclays and other banks will lose Cambridge University funds.

Cambridge University is currently withdrawing hundreds of millions of pounds from financial institutions that provide financing to the fossil fuel industry. Local banks in the UK such as Barclays Bank and HSBC Holdings will face deposit outflows. The university has transferred 135 million in cash and money market investments from mainstream large commercial banks to domestic building societies and other small financial institutions. Cambridge University continues to urge major universities in the UK to move away from banks that support the expansion of the fossil fuel industry, and more funds will be transferred in the future.