 HSBC Holdings PLC LSE:HSBA, which has been one of the biggest global backers of fossil fuel projects in recent years, said it will phase out investment in oil gas as part of a new commitment to supporting the transition to net zero. As part of the new energy policy, the FTSE 100-listed lender said: we will no longer provide new lending or capital markets finance for the specific purpose of projects pertaining to new oil and gas fields and related infrastructure when the primary use is in conjunction with new fields. 