The Dutch bank ING and two Chinese state-owned lenders could play a crucial role in deciding the fate of beleaguered Thames Water, it has emerged. The banks are expected to agree an extension on a £190m loan to the parent company of Britain’s biggest water supplier, which is due to be repaid at the end of this month. The group of lenders to Kemble Water Finance include ING, Allied Irish Banks (AIB) and the Chinese state-owned Bank of China and Industrial and Commercial Bank of China (ICBC), the Financial Times…
Tag: European banks
Banks pumped more than $150bn in to companies running ‘carbon bomb’ projects in 2022
Banks pumped more than $150bn last year into companies whose giant “carbon bomb” projects could destroy the last chance of stopping the planet heating to dangerous levels, the Guardian can reveal. The carbon bombs – 425 extraction projects that can each pump more than one gigaton of carbon dioxide into the atmosphere – cumulatively hold enough coal, oil and gas to burn through the rapidly dwindling carbon budget four times over. Between 2016 and 2022, banks mainly in the US, China and Europe gave $1.8tn in financing to the companies…