32 °C Singapore, SG
September 19, 2020
Latest News
Multinational companies account for nearly a fifth of global CO2 emissions, researchers say Charleston Sues 24 Fossil Fuel Companies For Costs Of Surviving Climate Change Vattenfall Ready to Close Largest German Coal Plant Hydroelectric-solar microgrid powering operations in Patagonia National Park WA’s South West could soon be home to an advanced manufacturing hub Hotter oceans make the tropics expand polewards Power companies face hardship in pandemic Australia’s Suncorp to stop financing, insuring oil and gas industry by 2025 Report sees India’s reliance on thermal power dropping to 50% in 2021, 43% in 2026 People power wins over coal funders Bill McKibben Sees “Vivid Possibilities For A Rapid Energy Transformation” RWE looking at renewables, hydrogen for future growth opportunities US power generator Vistra receives permit for 1.1GW battery storage Phillips 66 plans world’s largest renewable fuels plant Innovative Byproduct-Hydrogen Fuel Cell Power Plant Completed Global offshore wind industry takes huge strides Northvolt: $3 Billion For 2 Battery Gigafactories In Europe Repsol on board with aviation biofuels GoodFuels supports EU’s RED II 250 million coastal dwellers to face rising floods ‘Extreme’ glacier loss events linked to human-caused climate change for first time Free Solar-Powered Irrigation to India’s Farmers? Deutsche Bank to stop global coal mining business activities by 2025, also halt oil sands funding Renewables in Asia: A hard race against fossil fuels World’s Largest Solar Power Plant Moves Forward In UAE Human activity likely cause of Arctic’s heat wave Ireland’s renewable electricity scheme gets EU approval Greta Thunberg wins 1 million euro prize, says she will donate it to environmental groups Hanoi air pollution control to be enhanced Velocys backs call for more investment in sustainable aviation technology

Deutsche Bank to stop global coal mining business activities by 2025, also halt oil sands funding

Deutsche Bank, in an overhaul of its plans for nonrenewable fuel sources, stated on Monday that it would finish company activities worldwide pertaining to coal mining by 2025 at the latest. The German lending institution additionally claimed that effective now, it would no longer fund new projects in the Arctic or oil sand projects.

The new plans comply with statements previously made this year of new sustainability targets and also the issuance of the financial institution’s initial eco-friendly bond.

Urgewald, a charitable environmental and human rights organisation, stated that the news was a welcome advance yet “still too little, too late”. “In Contrast to worldwide rivals the financial institution is still hanging back on the environment,” it claimed, indicating BNP Paribas and also the Royal Bank of Scotland as front runners.

Deutsche Bank claimed that it would certainly evaluate every one of its U.S. and also European coal power tasks by the end of this year relative to customers’ diversification strategies. It will certainly start a comparable evaluation in Asia in 2022.

Deutsche president Christian Embroidery claimed the new plan “establishes  ambitious targets as well as allowing us to assist our long-standing customers with their own transformation.”

 

Leave a Reply

Your email address will not be published. Required fields are marked *