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Deutsche Bank to End Global Business Coal Mining Activities By 2025

Deutsche Bank to End Global Business Coal Mining Activities By 2025

Date: July 31st 2020

Author: Peter Palčec

Category: En.vision

Topic: Natural gas , Oil and oil derivates , RES and EE , Coal , Energy policy , Economy

The German Deutsche Bank has adopted a new fossil fuels policy which provides its business divisions with a strict framework for their business activities involving coal, oil and gas. “This means that Deutsche Bank will end its global business activities in coal mining by 2025 at the latest in order to help drive the transformation to a sustainable economy;” reads a press release from the bank.

In addition, Deutsche Bank has signed the so-called Equator Principles – a risk management framework for assessing the environmental and social risk of financing projects.

In May this year the bank announced its sustainability targets and it issued its first own green bond in June.

Deutsche Bank is also reinforcing its commitment to not finance any new coal-fired power plants.

Additionally, Deutsche Bank will no longer finance projects in the oil and gas sector that use hydraulic fracturing in countries with scarce water supplies, new oil and gas projects in the Arctic region and new oil sand projects (involving exploration, production, transport or processing).



This article is available also in Slovene.


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