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DNBNorway

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Last update: 2024-10-03 00:00:00
DNB's head office in Oslo, Norway. Photo: Yngvar Johnsen via Flickr (CC BY-NC 2.0)

Active

This profile is actively maintained
Last update: 2024-10-03 00:00:00
Bank info
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All
About
Website https://www.dnb.no/en
Headquarters
Dronning Eufemias Gate 30
0191 Oslo
Norway
CEO/chair Kjerstin Braathen
CEO
Supervisor
Norges Bank
Ownership
listed on Oslo Stock Exchange & Stockholm Stock Exchange

The Norwegian State owns 34.0% of DNB. DNB's complete shareholder structure can be viewed here.

DNB, founded in 1822, is Norway’s largest financial services group. The Group consists of brands such as DNB, Vital, Nordlandsbanken, Cresco, Postbanken, DnB NORD and Carlson. The group's activities are primarily focused on Norway. DNB is mainly active in providing finance for shipping, the energy sector and the fisheries and seafood industry.

Sustainability
Commitments
Policies
Voluntary standards

DNB's most important sustainability commitments can be found at the website sections listed below.

Links

Sustainability

Guidelines and exclusions

Excluded companies (as of Sept 18 2024)

Bank policy
2024-09-18 00:00:00 | DNB

Expectations to companies on Human Rights

Bank policy
2023-12-19 00:00:00 | DNB

Sustainability Group policy

Bank policy
2022-06-30 00:00:00 | DNB

Socially responsible investment

Date listed represents date as accessed on website
Bank policy
2020-12-01 00:00:00 | DNB

Standard for responsible investments

Bank policy
2020-01-27 00:00:00 | DNB

Code of Conduct

Bank policy
2019-12-01 00:00:00 | DNB

Responsible investment - serious environmental harm

Bank policy
2019-09-30 00:00:00 | DNB

Group Standard for Corporate Social Responsibility in DNB ASA's credit activities

Bank policy
2019-06-13 00:00:00 | DNB

CSR-ESG sector guidance - plastic packaging

Bank policy
2018-12-31 00:00:00 | DNB

Responsible investment - anti-corruption

Bank policy
2018-12-31 00:00:00 | DNB

Responsible investment - climate change

Bank policy
2018-11-30 00:00:00 | DNB

Group Standard for Corporate Social Responsibility in DNB Group's credit activities

Bank policy
2018-02-26 00:00:00 | DNB

DNB Code for responsible business conduct for suppliers

Bank policy
2018-01-31 00:00:00 | DNB

Principles for corporate responsibility

Bank policy
2017-11-07 00:00:00 | DNB

CSR-ESG sector guidance - metals and mining

Bank policy
2016-12-31 00:00:00 | DNB

CSR-ESG sector guidance - seafood

Bank policy
2016-12-31 00:00:00 | DNB

CSR-ESG sector guidance - forest industries

Bank policy
2016-12-31 00:00:00 | DNB

CSR-ESG sector guidance - arms and defence

Bank policy
2016-12-31 00:00:00 | DNB

CSR-ESG sector guidance energy

Bank policy
2016-08-31 00:00:00 | DNB

CSR-ESG risk assessment tool

Bank policy
2016-08-29 00:00:00 | DNB

Group guideline - Ethical investments

Bank policy
2016-01-25 00:00:00 | DnB Group

DNB Code of Responsible Business Conduct for Suppliers

Bank policy
2013-11-21 00:00:00 | DNB
DNB has committed itself to the following voluntary standards:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Dow Jones Sustainability IndicesTags: sustainable development | transparency
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
Global Reporting InitiativeTags: sustainable development | human rights
Green Bond PrinciplesTags: bond issuance | investment | sustainable development
ISO 14001Tags: transparency
OECD Guidelines for Multinational EnterprisesTags: consumer safety | corporate social responsibility | corruption | cultural preservation | dams | human rights | mining and processing | OECD | supply chain | taxation | worker rights
Poseidon PrinciplesTags: corporate social responsibility | shipping
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Principles for Responsible Investment (PRI)Tags: corporate social responsibility | sustainable development | United Nations
Responsible Ship Recycling Standards (RSRS)Tags: safety | shipping | waste management
Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance
UN Guiding Principles on Business and Human RightsTags: United Nations | human rights
UNEP Finance InitiativeTags: United Nations | sustainable development
United Nations Global CompactTags: United Nations | human rights
Dodgy Deals

DNB is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of DNB's link to these deals.

Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

Swedbank stops fossil loans after protests

The new report Banking on Thin Ice 3 shows that SEB, Nordea, and Danske Bank have provided over 60 billion SEK in new loans to fossil fuel companies in the last two years
2025-01-27 | BankTrack, ActionAid Denmark, Coal-free Finland, Fair Finance Guide Sweden, Future is in our hands, Nordic Center for Sustainable Finance, Profundo, Swedish Society for Nature Conservation
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks urged to refuse MUFG’s call to finance Papua LNG

2024-12-18 | ActionAid Australia, Centre for Environmental Law and Community Rights (CELCOR), Friends of the Earth Japan, Japan Center for Sustainable Environment and Society (JACSES), Jubilee Australia Research Centre, Market Forces, Reclaim Finance
BankTrack news BankTrack blog Partner news Partner blog

UK banks urged to end finance to company behind Rosebank oil field development

BankTrack mentioned
2024-03-20 | The Independent
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks financing company behind controversial Rosebank oil field despite climate pledges

HSBC, Lloyds, NatWest and BNP Paribas are financing major North Sea oil expander Ithaca Energy, despite pledges to stop propping up new fossil fuel projects
2024-03-20 | London | BankTrack, #StopRosebank
Blog
BankTrack news BankTrack blog Partner news Partner blog

European Finance Flows fuelling the climate crisis: The role of Article 2.1c under the UNFCCC

The EU’s call for COP28 to address the world’s climate-harming financial flows not matched by its own efforts at home, research by ActionAid reveals
2023-11-30 | ActionAid
Blog
BankTrack news BankTrack blog Partner news Partner blog

Policy analysis report: Moving away from mass destruction

2023-07-27 | ICAN, PAX
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks committed to net zero still funding North Sea oil expansion by Equinor

Over 60 organisations have written to Equinor's biggest bankers warning them not to fund the company's controversial Rosebank oil field due to climate risks.
2023-07-04 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Australia’s big four banks face human rights complaint over Santos Barossa financing

2023-04-05 | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

Sustainability policies of the biggest banks active in Norway are assessed

2023-01-19 | Profundo
BankTrack news BankTrack blog Partner news Partner blog

Financing fossil fuel majors in line with net-zero strategy, say Nordic banks

BankTrack mentioned
2022-12-12 | S&P Global
Blog
BankTrack news BankTrack blog Partner news Partner blog

European financial institutions heavily invested in companies involved in illegal Israeli settlements

725 European Financial Institutions found to provide billions of dollars in finance to companies operating in Israel's illegal settlement enterprise
2022-12-05 | Brussels | Don't Buy Into Occupation
Blog
BankTrack news BankTrack blog Partner news Partner blog

Nordic banks increase finance for Arctic oil and gas, new report finds

Ten Nordic banks provided US$ 21.2 billion to the fossil fuel industry. DNB, SEB, Nordea and Danske Bank largest Nordic financiers.
2022-11-22 | Nijmegen, the Netherlands | BankTrack, Greenpeace, ActionAid Denmark, Fair Finance Guide Norway, Fair Finance Guide Sweden, Friends of the Earth Finland, Swedish Society for Nature Conservation
Blog
BankTrack news BankTrack blog Partner news Partner blog

Big European financial institutions invest heavily but turn a blind eye to human rights abuses in Qatar

2022-11-07 | Fair Finance International
BankTrack news BankTrack blog Partner news Partner blog

Santos announces refinancing of syndicated debt facilities

Santos announced it had executed documentation to amend and extend its two syndicated bank loan facilities totalling US$1.25 billion.
2022-08-30 | Santos
Blog
BankTrack news BankTrack blog Partner news Partner blog

New Report: Financing a Fossil Future – Tracing the Money Pipeline of Fossil Gas in Southeast Asia

Southeast Asia is spiraling into a fossil future thanks to a massive fleet of gas projects
2022-06-03 | Center for Energy, Ecology, and Development (CEED)
Blog
BankTrack news BankTrack blog Partner news Partner blog

What the war in Ukraine teaches us

Lessons for European governments, companies and financiers - a Profundo Expert View
2022-03-04 | Jan Willem van Gelder - Profundo
Blog
BankTrack news BankTrack blog Partner news Partner blog

Meet the banks funding the owners of the Cambo oil field

New research shines a spotlight on the banks backing Shell and Siccar Point Energy
2021-10-29 | #StopCambo
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Banks involved in financing at least 200 fossil fuel projects since Paris

BankTrack research sheds new light on finance for fossil fuels by Equator banks
2021-10-26 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report exposes billions in European financial support to companies in illegal Israeli settlements

2021-09-29 | Don't Buy Into Occupation
BankTrack news BankTrack blog Partner news Partner blog

As Nordic banks aim to go greener, lending lags asset management pledges

BankTrack mentioned
2021-04-20 | S&P Global
BankTrack news BankTrack blog Partner news Partner blog

SASB, CDP, Ceres, 2ii and ShareAction vie to be part of oversight body for Principles of Responsible Banking

But Dutch NGO raises concerns about banks’ role in selection process
BankTrack mentioned
2021-02-10 | Responsible Investor
BankTrack news BankTrack blog Partner news Partner blog

DNB, SEB and Nordea among biggest Scandinavian fossil fuel lenders

BankTrack mentioned
2021-02-02 | Environmental Finance
BankTrack news BankTrack blog Partner news Partner blog

Ga Paris-løfte, men DNB fortsetter å låne ut til olje og gass

BankTrack mentioned
2021-02-01 | Oslo | Vårt Land
BankTrack news BankTrack blog Partner news Partner blog

Nordic Banks Slow to Cut Lending to Fossil-Fuel Sector: Report

BankTrack mentioned
2021-02-01 | Bloomberg
Blog
BankTrack news BankTrack blog Partner news Partner blog

Scandinavian banks poured $67 billion into the fossil fuel industry since Paris

New report finds ongoing finance for coal, oil and gas companies, with little commitments to phase-out from fossil fuels
2021-02-01 | Nijmegen, Copenhagen, Oslo, Stockholm | BankTrack, ActionAid Denmark, Fair Finance Guide Norway, Fair Finance Guide Sweden, Oxfam IBIS
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Banks fail communities on consultation and grievance mechanisms, new study finds

BankTrack research into nine projects financed ‘under Equator’ finds routine failures to conduct proper community consultation and a lack of effective project-level grievance mechanisms
2020-11-24 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Pobladores/as se toman terrenos de Forestal Arauco en Laraquete

2020-03-12 | Resumen.cl
BankTrack news BankTrack blog Partner news Partner blog

Norwegian police probe bank DNB over Namibia fisheries scandal

2019-11-28 | Oslo | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indigenous Groups Lead Movement to Call on Banks to Drop Enbridge’s Controversial Line 3 Pipeline

Tribal Nations based in Minnesota oppose the project and the Minnesota Department of Commerce has condemned it
2017-09-21 | Minneapolis, MN | Honor the Earth, Rainforest Action Network
BankTrack news BankTrack blog Partner news Partner blog

Standing Against the Banks: DAPL Divestment and Water Protectors' Fight for Justice, Indigenous Rights, Water and Life

2017-07-05 | EcoWatch
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report linking Nordic banks and government pension funds to Indonesia’s palm oil deforestation

Nordic investments to Asian banks support rapacious palm oil producers with financing that impedes push for sustainability
2017-05-30 | Oslo, Norway | Fair Finance Guide Norway, Fair Finance Guide Sweden, Rainforest Foundation Norway
Blog
BankTrack news BankTrack blog Partner news Partner blog

Six banks step away from Dakota Access Pipeline (DAPL) and backers

2017 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Norway's biggest bank may reconsider Dakota Access funding

Bank reported to have financed about 10 per cent of pipeline project
2016-11-08 | CBC News
BankTrack news BankTrack blog Partner news Partner blog

Bank DNB says considering pulling financing on N. Dakota pipeline

2016-11-07 | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

DNB sells stakes in companies involved in Dakota Access Pipeline over indigenous rights concerns

2016 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles goes beyond project finance, improves transparency

2012-08-13 | Environmental Finance
BankTrack news BankTrack blog Partner news Partner blog

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

2011-10-25 | Washington | prizmablog.com
BankTrack news BankTrack blog Partner news Partner blog

Time to Improve the Equator Principles, BankTrack Says

BankTrack mentioned
2011-10-24 | Washington | Social Funds
BankTrack news BankTrack blog Partner news Partner blog

BankTrack to Equator Principles banks; ‘get the Outside Job done’

Equator Principles update must lead to new Principles focused on people and planet
2011-10-23 | Washington | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Financiers search for sustainable future

BankTrack mentioned
2011-10-20 | Washington | Environmental Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

New rules for Equator Principles, but no new commitments from banks

New governance rules represent missed chance for Equator Principles to take bold steps forward on transparency and accountability
2010-07-01 | Nijmegen, the Netherlands | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Top financial institutions invest over US$43 billion in producers of cluster bombs

Activists call on governments and financial institutions to stop explosive investments
2010-04-14 | Geneva, Switzerland | Netwerk Vlaanderen/ IKV PaxChristi
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles: Action, not words needed

BankTrack calls upon Citi, new chair of Equator Principles to take bold steps forward
2010-03-15 | Nijmegen, The Netherlands | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Civil society groups call for bold steps forward with Equator Principles

Major reforms needed on transparency, accountability, implementation and climate change
2010-01-14 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Ex-Im bank undermines U.S. credibility at Copenhagen with $3 billion in financing for ExxonMobil

Papua New Guinea LNG Project will increase carbon emissions, deforestation, biodiversity loss, and civil unrest
2009-12-07 | San Francisco | Pacific Environment
Resources
Documents
Links

Excluded companies (as of Sept 18 2024)

Bank policy
2024-09-18 00:00:00 | DNB

Annual report 2023

Annual report
2024-05-07 00:00:00 | DNB

Open letter signed by 81 CSOs to financiers Ithaca Energy about Rosebank oil and gas field

NGO document
2024-03-19 00:00:00 | BankTrack, Stop Rosebank

Expectations to companies on Human Rights

Bank policy
2023-12-19 00:00:00 | DNB

Letter from BankTrack and 60 civil society groups to 20 bank financiers of Equinor on Equinor's proposed North Sea field Rosebank

Letter to financiers of Equinor on their client's ownership of Rosebank
Correspondence
2023-07-04 00:00:00 | BankTrack and 60 civil society groups

CSR report 2022

Annual report
2023-06-12 00:00:00 | DNB

Annual report 2022

Annual report
2023-05-16 00:00:00 | DNB

From policy to practice — do banks deliver on their promises?

NGO document
2023-01-19 00:00:00 | Framtiden.no (Future in our hands)

Banking on Thin Ice: Two years in the heat

Exposing Nordic bank finance for fossil fuels
BankTrack publication
2022-11-22 00:00:00 | BankTrack

Annual report 2021

Annual report
2022-11-15 00:00:00 | DNB

Expectations on climate change

Other bank document
2022-09-09 00:00:00 | DNB

Second quarterly factbook 2022

Other bank document
2022-09-09 00:00:00 | DNB

CSR report 2021

Annual report
2022-07-05 00:00:00 | DNB

Sustainability Group policy

Bank policy
2022-06-30 00:00:00 | DNB

Investing in troubled waters

The material risks of fish mortality and the use of wild-caught fish in feed for the aquaculture sector
NGO document
2021-08-24 00:00:00 | Feedback, Changing Markets Foundation, CFFA, and WSRW

Annual report 2020

Annual report
2021-06-08 00:00:00 | DNB

Banking on Thin Ice

Exposing Scandinavian Bank Finance for Fossil Fuels
BankTrack publication
2021-02-01 00:00:00 | BankTrack, Fair Finance Guide Norway, Fair Finance Guide Sweden, Oxfam IBIS, ActionAid Denmark

Socially responsible investment

Date listed represents date as accessed on website
Bank policy
2020-12-01 00:00:00 | DNB

"Trust Us, We're Equator Banks": Part II

BankTrack publication
2020-11-24 00:00:00 | BankTrack

Annual report 2019

Annual report
2020-07-01 00:00:00 | DNB

CSR report 2019

Annual report
2020-07-01 00:00:00 | DNB

Standard for responsible investments

Bank policy
2020-01-27 00:00:00 | DNB

Code of Conduct

Bank policy
2019-12-01 00:00:00 | DNB

Responsible investment - serious environmental harm

Bank policy
2019-09-30 00:00:00 | DNB

Group Standard for Corporate Social Responsibility in DNB ASA's credit activities

Bank policy
2019-06-13 00:00:00 | DNB

Fool's Gold

The financial institutions bankrolling Europe’s most coal-dependent utilities
NGO document
2019-05-21 00:00:00 | Europe Beyond Coal

Integrated Annual Report 2018

Annual report
2018-12-31 00:00:00 | DNB

Sustainability Factbook 2018

Annual report
2018-12-31 00:00:00 | DNB

CSR-ESG sector guidance - plastic packaging

Bank policy
2018-12-31 00:00:00 | DNB

Responsible investment - anti-corruption

Bank policy
2018-12-31 00:00:00 | DNB

Carbon accounting report 2018

Other bank document
2018-12-31 00:00:00 | DNB

Responsible investment - climate change

Bank policy
2018-11-30 00:00:00 | DNB

Integrated Annual Report 2017

Annual report
2018-03-31 00:00:00 | DNB

Group Standard for Corporate Social Responsibility in DNB Group's credit activities

Bank policy
2018-02-26 00:00:00 | DNB

DNB Code for responsible business conduct for suppliers

Bank policy
2018-01-31 00:00:00 | DNB

Principles for corporate responsibility

Bank policy
2017-11-07 00:00:00 | DNB

Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO

Correspondence
2017-06-06 00:00:00 | Rainforest Action Network et al

Nordic investments in banks financing Indonesian palm oil

NGO document
2017-05-30 00:00:00 | Rainforest Foundation Norway, FFG Sweden and FFG Norway

Annual integrated report 2016

Annual report
2017-03-31 00:00:00 | DNB

CSR-ESG sector guidance - metals and mining

Bank policy
2016-12-31 00:00:00 | DNB

CSR-ESG sector guidance - seafood

Bank policy
2016-12-31 00:00:00 | DNB

CSR-ESG sector guidance - forest industries

Bank policy
2016-12-31 00:00:00 | DNB

CSR-ESG sector guidance - arms and defence

Bank policy
2016-12-31 00:00:00 | DNB

Letter from DNB to BankTrack on Dakota Access Pipeline

Correspondence
2016-12-07 00:00:00 | DNB

Letter from 500 organisations to DnB on financing DAPL

Correspondence
2016-11-30 00:00:00 | 500 organisations

CSR-ESG sector guidance energy

Bank policy
2016-08-31 00:00:00 | DNB

CSR-ESG risk assessment tool

Bank policy
2016-08-29 00:00:00 | DNB

Annual Report 2015

CSR report included
Annual report
2016-06-14 00:00:00 | DNB

Group guideline - Ethical investments

Bank policy
2016-01-25 00:00:00 | DnB Group

Annual Report 2014

Annual report
2015-04-22 00:00:00 | DNB

Corporate Social Responsibility Report 2014

Annual report
2015-04-09 00:00:00 | DNB

Sustainability Report 2013

Annual report
2014-01-01 00:00:00 | DNB

Annual Report 2013

Annual report
2014-01-01 00:00:00 | DNB

DNB Code of Responsible Business Conduct for Suppliers

Bank policy
2013-11-21 00:00:00 | DNB

Worldwide investments in Cluster munitions, a shared responsibility

NGO document
2012-06-20 00:00:00 | IKV Pax Christi & FairFin

Letter from BankTrack to EPFIs on issues around Equator Principles Review process

Correspondence
2010-12-18 00:00:00 | Banktrack

Summary Table 'Hall of Fame and runners-up'

NGO document
2010-04-01 00:00:00 | Netwerk Vlaanderen, IKV PAX Christi

Climate policy declaration

Other document
2008-09-01 00:00:00 | Confederation of Norwegian Enterprise (NHO)
Accountability
Grievances

DNB does not operate a complaints or grievances mechanism for individuals or communities that might have been affected by the bank's finance.

DNB is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.

This page evaluates DNB's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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Banks and Climate

Banks and Climate

Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of DNB’s fossil fuel policy below.

Assessment of DNB's coal policy in the Coal Policy Tool

Assessment of DNB's polices in the Oil & Gas Policy Tracker
Banks and Russia

Banks and Russian Aggression in Ukraine

BankTrack is keeping track of the public response of DNB to Russia's illegal invasion of Ukraine. DNB did not publicly condemn the war. DNB's status of operations in Russia is "unclear". We consider its exposure to Russia as limited. DNB supports the Russian fossil fuel industry through investments. For further details, see the table linked below.

Bank responses to Russia's invasion of Ukraine
Good Moves

Good moves

Year:

2025

Swedbank stops fossil loans after protests

After protests from thousands of Swedish bank clients, Swedbank has almost completely stopped new loans to fossil fuel companies. Meanwhile, SEB, Danske Bank, and Nordea have continued to pour over 60 billion SEK into fossil fuel companies, including to upstream companies that explore for more fossil fuel reserves. This…

2017

Six banks step away from Dakota Access Pipeline (DAPL) and backers

In February 2017, ABN AMRO, ING, BayernLB and Nordea all announced they would step away from financing either the project or its backers. In March, ING became the first bank to sell its portion of a project loan supporting the pipeline. This was followed by DNB and by BNP Paribas selling…

2016

DNB sells stakes in companies involved in Dakota Access Pipeline over indigenous rights concerns

Norway's biggest bank announced in November 2016 that it has sold its stakes in companies that are involved in the construction of the Dakota Access Pipeline. DNB’s holdings were worth around $3 million (26 million kroner). Additionally, DNB is reconsidering three separate loans it has made to help finance…