Author: Robin Hicks
Credit Suisse has committed to rule out financing deep-sea mining.
The French multinational bank published new lending guidelines for sectors with high environmental, social and governance (ESG) risk on Wednesday, and declared that it would not provide any financing for the exploration or extraction of seabed minerals.
It is the latest global bank to step away from the controversial pursuit of deep-sea minerals. Banks that have pledged to avoid deep-sea mining financing include British lenders Lloyds, NatWest, and Standard Chartered, Dutch bank ABN Amro, and Spanish group Banco Bilbao Vizcaya Argentaria.