<
https://www.theenergymix.com/2023/01/23/danske-bank-quits-new-fossil-fuel-financing/>
"Denmark’s biggest bank has declared an end to fossil fuel financing, after
concluding that 99.9% of its carbon footprint comes from financed emissions.
Danske Bank supports “an orderly transition to low-carbon economies and will,
for that reason, not offer refinancing or new long-term financing to oil and
gas exploration and production (E&P) companies that do not set a credible
transition plan in line with the Paris Agreement,” the institution declares, in
a new
Position Statement on Fossil Fuels released Friday.
“In continuation of this, Danske Bank’s view is that financing new oil and gas
fields is incompatible with our commitment to support the Paris Agreement and
have therefore decided not to offer long-term financing or refinancing to E&P
oil and gas companies that intend to expand supply of oil and gas.”
Danske Bank issued the statement less than a week after Reclaim Finance
revealed that Canada’s top five banks, led by the Royal Bank of Canada, poured
US$37.4 billion into fossil fuel finance since joining the Glasgow Financial
Alliance for Net Zero (GFANZ) in 2021.
Andrew Block, RBC’s senior director of climate communications, told
The Energy
Mix the bank would “respectfully decline comment” on how a decision like
Danske’s might influence its own practices, or what RBC thinks it knows about
fossil fuel investments that its Danish counterpart doesn’t."
Via
Future Crunch:
<
https://futurecrunch.com/good-news-tropical-diseases-womens-china-miyawaki-amazon/>
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
