- ING tightens lending policy to oil and gas sector, restricting finance to commodity or trade finance and midstream infrastructure.
- The bank is working on methodology to reduce volumes of traded oil and gas it finances in line with climate goals.
- ING aims to cut the volume of traded oil and gas it finances by 19% by 2030 to align with IEA's Net-Zero Emissions by 2050 Roadmap.
- ING will no longer provide dedicated finance to midstream infrastructure activities that help new oil and gas fields to be developed.
ING toughens oil and gas policy to include trade finance, midstream
Dutch lender ING on Tuesday said it had again toughened its lending policy to the oil and gas sector, restricting finance to clients engaged in commodity or trade finance and "midstream" infrastructure.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/J4QNX4XLRRI3ZMMOFM5XGFQ7E4.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/RCWZE2OK3BNCJNRVFOS74NYF7M.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/6W5WJY7T4NLKVFJO5JX37LPYS4.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/BYL7ESQPMFMSNNVJSVCYKYTPH4.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/OGBROYPEZVMVNLCKMBDIE2XJCE.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/JG3AL7UAGVPBJHJUNQS4YZL4SE.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/J4QNX4XLRRI3ZMMOFM5XGFQ7E4.jpg&description=ING%20toughens%20oil%20and%20gas%20policy%20to%20include%20trade%20finance%2C%20midstream){kind=link}