Danske Bank Slashes Oil and Gas Loans, With More Cuts Ahead

Danske Bank A/S is planning further cuts in its financing of fossil-fuel businesses after halving loans to the gas industry and reducing oil lending by more than a third since 2020.

Denmark’s largest bank said its “entire” carbon footprint is now 41.1 million tons of carbon emissions, according to a statement on Friday. The figure also covers Danske’s pension investment and mortgage lending businesses, it said. By comparison, Denmark’s total carbon emissions in 2021 were 44 million tons.

The bank has now “prepared an ambitious plan to support our own and our customers’ transition towards a sustainable future,” Carsten Egeriis ...