Another bank is doing its bit for Putin and Xi.

Reuters:

ING Groep NV  will no longer finance new oil and gas projects, its energy chief said, becoming the biggest bank yet to commit to such a step in the fight against climate change.

The move by the Dutch financial services firm raises pressure on peers to heed a call by the International Energy Agency (IEA) for a halt to funding for new fossil fuel projects to help cap global warming at no more than 1.5 degrees Celsius.

Also ING:

ING started its banking operations in China in 1990. Our Beijing and Shanghai branches are primarily active in lending, financial markets and corporate finance in China, providing renminbi and foreign currency debt financing, trade and commodity finance as well as merger and acquisition advisory services to both local and international companies and institutions.

ESG. China. Choose One.

March 24, 2022 3:32 pm

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