HSBC will no longer provide new lending or capital markets finance for the specific purpose of projects pertaining to new oil and gas fields, the British bank said on Wednesday.

The announcement came as part of an update to the bank's wider energy policy, as it seeks to align its financed emissions to net zero by 2050 or sooner in line with the goals of the Paris Agreement on climate change. (Reporting By Lawrence White, Editing by Iain Withers)