Sunday March 29, 2020

Ulster Bank considers ditching ‘carbon-heavy’ customers

Parent RBS sets target of reducing lender’s exposure to firms in coal, oil and gas sectors

Ian Guider

Markets Editor

@ianguider
23rd February, 2020
Ulster Bank’s parent company, Royal Bank of Scotland, plans to curb its lending to certain industries, including those involving fossil fuels. Picture: Bloomberg

Ulster Bank could end its relationship with some customers who produce heavy carbon emissions.

The bank’s parent company, Royal Bank of Scotland, has set a target of reducing its exposure to large carbon producing companies, including those in the coal, oil and gas sectors.

Jane Howard, Ulster Bank’s chief executive, told the Business Post that it would also be looking at its relationship with customers to transition them away from carbon emissions....

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