ING’s German Unit Drops High CO2-Risk Clients
Some bank investors have signaled impatience with the industry’s perceived foot-dragging when steering capital away from high-polluting industries.
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The German unit of ING Groep NV is rejecting clients that fail to provide credible emissions-reduction plans, according to a senior executive.
Eddy Henning, who runs ING’s commercial banking activities in Europe’s biggest economy, says borrowers who don’t provide adequate responses to the bank’s inquiries about their carbon footprint should expect to have their loan applications rejected.