ING Stops Funding Pure-Play Upstream Firms With New Oil and Gas Fields

The largest bank in the Netherlands, ING, is further restricting its energy financing by halting all new general financing to so-called pure-play upstream oil and gas companies that continue to develop new oil and gas fields. ING, which has already announced some financing restrictions to fossil fuels in recent years, unveiled new steps in its policy for energy financing in its annual Climate Progress Update 2024 published on Thursday. “We will stop all new general financing to so-called pure-play upstream oil & gas companies that continue...