27 °C Singapore, SG
February 21, 2024
Latest News
Corio Generation and bp Alternative Energy Investment Ltd invest in South Korea Australia missing climate targets Advocating for US based offshore wind Broken Record, Temperatures hit new highs, yet world fails to cut emissions (again) Toshiba and GE to shore up Japanese offshore wind domestic supply chain How I got here… National University of Singapore green finance academic Sumit Agarwal Multi-billion-dollar renewables project earmarked for Yindjibarndi native title land Smart Energy Finances: Enel divests 50% of Australian renewable operations to Japanese oil and gas giant Critical minerals investments surged by 30% finds IEA Kung Fu nuns fight climate change One of Southeast Asia’s largest energy storage systems comes online Why turning waste into gas will add value to this Indigenous economy Renewable energy records tumble around Australia as rooftop solar power soars Topsoe supports SGP BioEnergy in renewable fuels production in Panama ‘Poor tropical regions’ suffer greatest economic damage from worsening heatwaves UNEP: Meeting global climate goals now requires ‘rapid transformation of societies’ Analysis: Africa’s unreported extreme weather in 2022 and climate change Partly wind-powered coal ship sails into Newcastle New fossil fuels ‘incompatible’ with 1.5C goal, comprehensive analysis finds Australian offshore wind ‘supercharged’ in Victoria as billions pledged to fast-track projects Goldwind turbine ‘breaks world record for largest rotor diameter’, Chinese media reports BW Ideol to work with developer Taiya on Taiwan floating wind pilot US to boost floating wind power Wind Power in South Korea – an overview GS E&C to develop bioethanol using cassava waste Korean business group has asked the US to make exceptions for Korean EV’s in Inflation Reduction Act Equinor’s Australian offshore wind debut Global energy transition stalls – 2022 Global Status Report in pictures India’s ReNew Power secures $1bn loan for gigascale 24/7 wind-solar-battery project POSCO International to merge with POSCO Energy

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 *