Natixis announces its exit from shale oil and gas, and speeds up its complete withdrawal from the coal industry.
As early as 2017, Natixis decided to discontinue financing projects and companies involved in tar sand oil extraction and heavy grade oil production. On May 18, it announced two new commitments in its energy and climate transition policy.
Natixis will cease financing projects dedicated to the exploration and production of shale oil and gas, and companies actively involved in these areas. It has also laid out a timetable for its total withdrawal from the thermal coal industry by 2030 for EU and OECD countries, and by 2040 for the rest of the world. Natixis has also decided to stop providing financial support for companies developing new capacity in coal-fired power plants or thermal coal mining.
Natixis has been developing recognized expertise in the transition to a low-carbon economy over a great many years. In 2019, renewable energy accounted for more than 90% of the financing awarded by Natixis in the energy generation sector. It has financed a total of 6.1 GW of installed capacity in renewable energy since the Paris Climate Agreement.
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