Oil firms represent a large part of companies excluded from financial institutions’ portfolios, and there is no outlook for an alteration of this strategy.
Investors have high sustainability demands for the investment portfolio, which for long have made it hard for fossil energy companies to convince that they within a foreseeable future can see their way out of the current business.
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In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.