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Nordea shareholders overwhelmingly rejected a proposal to halt fossil fuel lending, with 95.36% voting against it. The bank has provided $641 million in loans to upstream oil and gas companies over two years, despite being part of the Net-Zero Banking Alliance. Critics highlighted Nordea's financing of the controversial East African Crude Oil Pipeline and called for a shift away from fossil fuel investments, but the bank's leadership emphasized the need to support Norway's oil and gas economy.
The French government is set to present its draft budget for 2025, with local authorities urged to contribute to improving public finances. Concerns have been raised about a projected public deficit of 6.1% of GDP, with calls for tax increases on companies like Total and significant cuts in various sectors, including education and justice. The budget will undergo parliamentary scrutiny starting October 21, with a vote expected by November 19.
Total
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nordea shareholders reject fossil fuel lending resolution amid growing criticism
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15:11 20.03.2025
France prepares 2025 budget amid calls for tax reforms and spending cuts
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09:00 11.10.2024
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