The French central bank will reduce its exposure to the oil and gas industry over the next four years as part of efforts to redirect its resources to more renewable energy projects, Reuters has reported, citing a statement by the bank. By 2024, the bank will stop lending money to companies that source more than a tenth of their revenues from oil and 50 percent from gas.
From this year, the Bank of France will no longer lend to shale oil and gas developers as well as companies with Arctic or deepwater projects on their books. At the same time, the…Bank Of France To Curb Exposure To Oil
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