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During the last two years, ABN Amro Bank and the ING Group continued to finance oil, coal and gas companies. According to new research, the Fair Banking and Insurance Guide (EBW) states this
. According to the researchers, the two banks jointly lent 11.4 billion euros to companies in the fossil fuel sector in 2016 and 2017. On the other hand, 2.4 billion euros were spent in the energy sector. euros in investments in sustainable energy companies.
This means that more than 80% of energy loans go to unsustainable businesses. At ABN Amro, this percentage has even increased significantly compared to four years ago, according to the EBW.
Bifurcated
This is striking because ABN Amro, in particular, is fully committed to sustainability and greening. The bank is focused on the "banking sector for better results" and wants to attract businesses and customers. The circular economy, climate, energy transition and human rights are the most important themes.
ABN Amro states in a reaction that the result of the research is skewed. The EAR researchers make a comparison with 2014 and it is precisely that year that, according to a spokesman for the bank, a number of important sustainable investments have been made. "You can not just conclude that the share of renewable energy has decreased since then, you have to correct that."
In addition, ABN Amro points out that the bank did not cooperate in the investigation. The AER says that cooperation is not necessary. "These personalities feature in public trade databases, sourced from reputable research agencies that looked at the banks behind 300 energy companies."
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