“Our new fossil fuels policy sets us a strict framework for our business activities in the oil, gas and coal sector,” Deutsche Bank CEO Christian Sewing, who also chairs Deutsche Bank’s Sustainability Council, said in a company statement.
German Deutsche Bank joins Goldman Sachs, Wells Fargo, Citi, JPMorgan Chase, and Morgan Stanley - 5 of the biggest American banks - in banning Arctic drilling from its company. Bank of America is currently the last of the largest banks in the U.S. to issue an anti-Arctic drilling policy or statement. Globally, about two dozen banks have adopted these policies.
Climate activists are celebrating Deutsche Bank's new energy policy banning financial support of drilling in the Arctic. Many banks, especially in Europe, have faced in recent years increased public and activist pressure to stop funding fossil fuel project.
To read the article in Russian.
