Dutch bank ING cuts carbon emissions linked to power industry lending

has sharply cut the carbon emissions linked to its lending to the power industry over the past year after reducing funding to coal-fired power plants and boosting financing for renewable energy, it said on Thursday.

ING is part of a small group of banks seeking to lead the way in aligning a combined 2.4 trillion euros in lending with the 2015 Paris climate agreement, aiming to keep global warming well below 2 degrees Celsius above pre-industrial norms by 2050. “Our approach is inclusive and collaborative. We work together with our clients to facilitate their transition to low-carbon technologies,” ING CEO Steven van Rijswijk said.

The biggest improvement was in the impact of the bank’s lending to the power generation sector, where carbon intensity - measured by kilograms of CO2 per megawatt hour - was now 14.9% below the target pathway and ahead of schedule.

We have to destroy the people who run these banks or they will destroy us completely.

Put that 4 bil euros they invest in oil into renewables next year or before and they're getting there. I know it's hard, as they're a business, but it has to be done

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Helping companies that ‘keep the country going’: Small businesses can narrow racial wealth gaps and save the U.S. economy, says microlender’s CEO'We believe moral collateral is more important than fixed-asset collateral.' This microlender's CEO says small businesses can narrow racial wealth gaps and save the U.S. economy. levisu interviewed her for the Value Gap, a series about inequality: levisu Reparations for black Americans mandatory period BlackAmericanLivesMatter levisu levisu Marketwatch is censoring comments that are negative to republicans. When a negative comment is made on reps i got a warning that it was against policy. When I made a negative comment on dems no such warning. Not surprising. Marketwatch is owned by Rupert Murdoch and Fox Noise.
Source: MarketWatch - 🏆 3. / 97 Read more »