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INGA ING Groep NV

16.524
0.298 (1.84%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
ING Groep NV EU:INGA Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.298 1.84% 16.524 17.00 16.53 16.524 16.22 16.22 10,816,361 16:40:00

ING to Phase Out Upstream Oil and Gas Financing by 2040

20/12/2023 7:17am

Dow Jones News


ING Groep NV (EU:INGA)
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By Christian Moess Laursen

 

ING said it will phase out upstream oil and gas financing by 2040 and triple renewables financing by 2025, responding to the pact to pivot away from fossil fuels at COP28 last week.

The Dutch bank said Wednesday that loans to upstream oil and gas activities will be reduced by 35% by 2030, and by 2040 the financed emissions linked to its portfolio will be reduced to zero.

ING also aims to triple the financing of renewable power generation to 7.5 billion euros ($8.24 billion) annually by 2025, up from EUR2.5 billion in 2022.

 

Write to Christian Moess Laursen at christian.moess@wsj.com

 

(END) Dow Jones Newswires

December 20, 2023 02:02 ET (07:02 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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