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For new loans, the Dutch bank plans to consider how climate change might impact a company's ability to repay their debts. ING is not planning to divest loans.
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“There’s no one way towards Paris -- each sector will have its own route,” Leon Wijnands, head of sustainability for ING, said. The bank will make lending decisions based on issues such as whether automakers are investing in electric vehicles or fossil-fuel companies are investing in renewables, Wijnands said. It will also try to engage companies already in its portfolio but on the wrong track as far as climate change, he said. ING partnered with the 2˚ Investing Initiative to develop a science-based strategy to ensure its loans are meeting climate goals.
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