ING Further Cuts Fossil-Fuel Financing in New Climate Pledge [Financial Post (Toronto, Ontario, Canada)]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — ING Groep NV plans to further reduce the financing it provides to fossil-fuel companies as part of its effort to drive down emissions in its loan portfolio and achieve a net zero target by 2050. In its annual climate report published Thursday, the Netherlands' largest bank said it will no longer finance so-called pure-play companies that continue to develop new oil and gas fields. That follows an earlier pledge to end all funding of upstream oil and gas activities by 2040. ING said its outstanding exposure to upstream oil and gas activities fell almost 40% last year to €1.2 billion ($1.3 billion). The Dutch bank also plans to stop providing new financing for new liquid natural gas terminals after 2025. “ING wants to play a leading role in accelerating the global transition to a low-carbon economy,” Chief Executive Officer Steven van Rijswijk sai
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ING
Earnings
- 2/1/24 - Miss
ING
Sec Filings
- 11/12/24 - Form SC
- 11/12/24 - Form 6-K
- 11/6/24 - Form 13F-HR
- ING's page on the SEC website