Dutch lender ING has decided to end its exposure to coal by 2025 as it steps up its fight against climate change.
The bank announced its pledge on Tuesday, but stopped short of moving away from coal financing completely.
IMG head of business ethics Arnaud Cohen said the lender would reduce its exposure to thermal coal – the type used for power generation. However, Cohen said the lender will still expose itself to coking coal as he said that the “world cannot do without this yet”.
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