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Oil Trader CFOs Say Banks Are Demanding Green Targets for Loans

  • Trading firms need ‘clear ambition’ for energy shift: Gunvor
  • ESG concerns now at the ‘forefront’ of the business: Mercuria
An oil pump jack in a field with wind turbines in Corpus Christi, Texas.
Photographer: Eddie Seal/Bloomberg

The finance chiefs of the world’s biggest oil trading houses said banks are increasingly demanding they meet environmental, social and governance targets to access loans critical to their business.

Lenders want to see a clear strategy for the energy transition, Gunvor Group said Wednesday, while Mercuria Energy Group Ltd. said ESG is now a priority.