Deutsche Bank to end coal related business by 2025

Monday, 27. July 2020 13:27

Deutsche Bank AG announced on Monday it will end its global business activities in coal mining by 2025 at the latest.

The lender said that will cease financing any new oil sands projects or undertakings in the Arctic region. In addition, Deutsche will no longer provide support oil and gas projects that use hydraulic fracturing in countries with scarce water supplies.

The bank previously stated the merger of its wealth management and private & commercial business international units into a new international private bank.

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Author:
Breaking the News / MD