ING has ended general financing to pure-play upstream oil and gas companies that continue to explore and develop new fields.| Global Trade Review (GTR)
Fossil fuel financing from the world’s largest banks dropped by more than US$70bn in 2023, a report has found, yet an increase in backing for trade in LNG has prompted a backlash from climate campaigners. Overall lending and underwriting to companies with fossil fuel exposure has dropped from US$961bn in 2021 to just under US$706bn…| Global Trade Review (GTR)
Members of the Net Zero Banking Alliance (NZBA) have voted to weaken key climate commitments, including removing mandatory targets and a requirement to support the transition towards a net-zero economy. The UN-backed NZBA aims to bring together banks committed to “aligning their lending, investment and capital markets activities with net-zero greenhouse gas emissions by 2050”,…| Global Trade Review (GTR)
Standard Chartered is the first bank to announce it will align its trade practices with the ICC’s Principles for Sustainable Trade Finance.| Global Trade Review (GTR)