theNetherlands

cross-posted from: https://beehaw.org/post/19136902

The Dutch environmental NGO Milieudefensie (Friends of the Earth Netherlands) formally filed a lawsuit today against ING, the largest bank in the Netherlands, challenging the bank’s climate policies. The lawsuit seeks to compel ING to align its financing activities with the goals of the Paris Climate Agreement. By taking this action, Milieudefensie hopes to set a precedent for holding financial institutions accountable for their role in financing fossil fuel companies and high-carbon sectors that exacerbate the global climate crisis.

“If we succeed, this will be a major breakthrough in achieving climate stabilization globally,” Donald Pols, director of Milieudefensie, said during a press briefing last week. He noted that ING, as one of the 30 largest banks in the world, has a substantial impact on the broader financial sector.

“Milieudefensie is demanding that ING halve its emissions by 2030 and stop financing companies that start new oil and gas projects,” Pols said.