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ING Cuts Dirty Loans as Banks Purge Books to Meet CO2 Goals

  • Dutch bank is latest to act as industry feels the pressure
  • ECB is also set to scrutinize banks’ exposure to climate risk
ING Groep NV Chief Executive Officer Ralph Hamers Opens New Campus Headquarters
Photographer: Geert Vanden Wijngaert/Bloomberg
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ING Groep NV will cut lending to fossil-fuel companies at a faster pace than previously planned as the finance industry races to slash its carbon footprint in time to meet goals laid out in the Paris Agreement.