ING: Leads workgroup to help decarbonize steel sector
- ING is a pioneer in the digital bank and at the forefront of one of the most innovative banks in the world
- Citi, Goldman Sachs, Societe Generale, Standard Chartered, and UniCredit have formed a workgroup to take action on climate
- The banks, all lead lenders to the steel industry, will define common standards for measure progress on climate targets
- Many industries have low-carbon technologies which emit roughly 7% of global energy emissions
- Since the sector is so carbon-intensive, there are expectations that financial institutions should support its decarbonisation
- The Climate-Aligned Finance Work Group will consist of senior representatives from each bank’s metals
