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Deutsche Bank says it will no longer invest in fracking or Arctic oil as banks turn away from fossil fuels

Deutsche Bank says it will no longer invest in fracking or Arctic oil as banks turn away from fossil fuels
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Deutsche Bank said it will no longer finance oil sand or energy projects in the Arctic as part of its new fossil fuels policy.




The German lender is cutting ties with fracking projects in countries with scarce water supply, and aims to end business activities in coal mining by 2025.




By the of end 2020, Deutsche Bank will review all existing oil-and-gas businesses in Europe and the US, it said.




For businesses in Asia, a review is expected to conducted in 2022 but that will likely take longer as the region is highly dependent on coal power.A 




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Deutsche Bank said on Monday it would no longer fund oil sand or new energy projects in the Arctic region, as banks become more conscious of their carbon footprint, and contributions to climate change.
The German bank also said it would end all fracking projects in countries with short water supply, and halt global business activities in coal mining by 2025.
By the end of 2020, Deutsche Bank said it would review all planned business activities that are highly dependent on coal in Europe and the US.
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