Deutsche Bank To Ditch Coal-Linked Deals By 2025

Law360, London (July 27, 2020, 9:50 PM BST) -- Deutsche Bank AG on Monday pledged to terminate business ties with the fossil fuel industry and assess client relationships by 2025, as part of its broader focus on climate-friendly finance and investment.

Germany's biggest lender said it has achieved a previous goal to reduce loan exposures to coal-fired power plants and has a new fossil fuels strategy in which its divisions have a "strict framework for their business activities" regarding oil, gas and coal.

It added that it will "end its global business activities in coal mining by 2025 at the latest in order to help drive the transformation to a...

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