In just under three years, the financing of these types of projects should have increased by half, ING announces. ING is not completely exiting the fossil energy sector. For example, the financial group still provides credit for oil and gas pipelines, for example, in order to secure the supply of energy.
Lucie Pinson from Reclaim Finance, an organization that is committed to financial measures against the climate crisis, tells Reuters news agency that ING is one of the largest banks that has pushed through such a measure. She calls it a ‘fantastic signal’, but it does not go far enough: “ING’s commitment to cut financing to the sector without refusing companies that want to open new oil and gas pipelines does not bode well. for our climate.”
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