The Leave It In The Ground Initiative (LINGO) published the results of its research, showing that UK-based actors, fossil fuel companies and banks, are involved in at least 117 Carbon Bomb projects in 28 countries representing more than 420 gigaton potential CO2 emissions. This includes emissions from active and planned extraction projects.

In 2024, the current budget for a likelihood of 50% to stay under 1.5 °C (2.7 °F) is 200 gigaton CO2. The Carbon Bombs listed would take us far over this budget; making our chances to stay under 1.5 °C improbable.

See The Guardian article that this research was featured in here.

The financial data includes all loan, bond and share issuance financing between 2016 and 2023. Even if the financial contract has ended since then, banks are listed as financiers of carbon bomb companies as they were implicated in the mentioned period.

If you would like to see a detailed breakdown of how much the UK actors finance companies operating Carbon Bomb projects, see this spreadsheet.

Find the data on the LINGO website here. Find the methodology and more details here.