Jeanne Martin, head of the banking programme at ShareAction, a charity that campaigns for reducing investment for fossil fuels like oil and gas, said: "HSBC's announcement sends a strong signal to fossil fuel giants and governments that banks' appetite for financing new oil and gas fields is diminishing."Under the 2015 Paris Agreement, 197 countries agreed to try to keep temperature rises "well below" 1.5C to avoid the worst impacts of climate change.Tony Burdon, chief executive at climate finance campaign Make My Money Matter, said: "it's another nail in the coffin for fossil fuel expansion, and a massive signal to other UK banks that the game is up on new oil and gas."It is not yet clear if this is the beginning of a trend across the sector, but it comes just months after the UK government announced a new round of licensing for oil and gas production in the North Sea.HSBC has said it will continue to keep its investments already in oil and gas fields as it "recognises that fossil fuels, especially natural gas, have a role to play in the transition, even though that role will continue to diminish"."