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Largest Belgian banks invest €40 billion in coal, oil, gas and turf

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Largest Belgian banks invest €40 billion in coal, oil, gas and turf

Four largest banks, which are operating on the territory of Belgium, have invested about €40 billion for the last two years in the extraction of fossil fuel, such as coal, natural gas, oil and turf, Le Soir reports, citing the data from Coalition Climat non-profit association.

Thus, BNP Paribas, the parent company of BNP Paribas Fortis operating in Belgium, has invested €30,37 billion, the Dutch banking group ING — €7 billion, the Belgian Bank KBC — €2,22 billion, the Belgian financial group Belfius — €679 million.

As Coalition Climat has pointed out, nearly half of the investments of Belgian banks amounting to €19.4 billion account for the companies specializing in coal-based energy.

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