Urgewald Criticizes Deutsche Bank for Continuing to Finance Coal—Bank Rejects the Figures

Funding for the coal industry in Europe is on the decline, according to a new analysis by the environmental advocacy group Urgewald. Banks in Switzerland and Austria, in particular, are scaling back their financing. In contrast, some German banks are taking a very different approach, the environmentalists explain—Deutsche Bank, in particular, is keeping fossil fuel energy production afloat, for example, in two large Chinese companies.
Deutsche Bank, however, disputes Urgewald’s figures regarding its coal exposure and says it cannot understand the study’s methodology. It argues that the emissions financed by the coal companies have, in fact, been declining more sharply for the past three years…