Netherlands: ‘Rabobank turns against shale gas’

[bemildred]

Source: PressEurope

The country’s largest bank is refusing to lend to companies that wish to invest in shale gas. The Amsterdam daily reports that Rabobank “does not want to contribute to energy which it believes to be polluting,” and has said as much in a recent position paper on its business and sustainable development.

For the moment, this decision will mainly have an impact on the bank’s operations in the US, where Rabobank is the leading lender to farmers, and where the drive to develop shale gas is such that it has been called “a second gold rush”.


Read more: http://www.presseurop.eu/en/content/news-brief/3928871-rabobank-turns-against-shale-gas

[Berlum]

1. Bully for them

...if in fact that is their true motivation.

[bemildred]

2. I'll take it. nt

[Mopar151]

3. Smart business=clean business

I had a really smart boss (MBA with brain still connected) who taught me about management of downside risk

[Buzz Clik]

4. Interesting. The enemy of my enemy is my friend, even though we hate banks.

So, if the a big playing in the fracking industry came out against banks, would we suddenly love fracking? Or, am I missing a subtle point?

[bemildred]

5. Your premise is wrong, we don't hate all banks, just the greedy crooks. nt

[Buzz Clik]

6. Hm. Is that attribute listed in their online portfolio?

Just trying to see how it is we separate the good guys from the greedy crooks, particularly in the banking industry. Not unlike sifting out the dishonest lawyers.

Any good frackers out there?

[bemildred]

7. No, you have to watch what they do, and how they do it. nt

[Buzz Clik]

9. Cool. We get to choose who the good banks are.

This is a game that should be quite fun to play (no rules).

[bemildred]

10. Indeed, we're the customers, the ones they are supposed to "serve", and we do decide. nt

[dipsydoodle]

8. Given that the UK and the Netherlands were once joined

chances are they've got the same deposits the UK is thought to have. I don't blame them - fracking consumes absurd amounts of water quite apart from other bad aspects.