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Deutsche Bank tightens coal finance policy but not oil and gas

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Deutsche Bank on Thursday tightened its coal financing policies but has yet to change its criteria for the oil and gas industries, drawing criticism from climate activists.

Deutsche Bank in recent years has marketed itself as a lender that firms can turn to as they transition to a greener future, a strategy it views as central to its own turnaround and boosting profits.

Deutsche said its financing of the oil and gas sector declined by more than 20% last year, which it attributed to the bank's exit from Russia and its cessation of support for Russian gas companies rather than an active decision to stop financing certain providers.

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