BANKING group BNPParibas' decision to axe funding for new natural gas and oil projects raises serious questions about where the hydrocarbon energy sector will obtain its future funding. The retreat by the French bank - one of Europe's biggest funders of fossil fuels - is the latest in a series of moves by finance houses to align themselves more strongly with the energy transition. It shows that natural gas could face increased pressure, rather than being broadly accepted as a lower-carbon fuel that could "bridge" the gap as the world moves from fossil fuels towards an economy with net-zero carbon dioxide emissions.
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