Published:
Local banks face green lending debate as haze chokes the city
It's a war between ethics and profit.
A Singapore banking group has embarked on a review of ethical lending practices as haze caused by forest fires in Indonesia envelops the city for a fifth week, according to a report by Bloomberg.
The Association of Banks in Singapore said Monday its members are working on measures that will improve responsible lending, without spelling out specifics, while the central bank said those guidelines will be issued “soon”.
The banking review reflects concern a backlash against companies that cause the forests fires may extend to the financial institutions that fund them.
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