Dutch bank ABN Amro said on Friday it expected to allocate up to 1 billion euros ($1.07 billion) in early-stage capital by 2030 as it joined the Net Zero Banking Alliance (NZBA). - Reuters

The group, which plans to reach net zero for its own operations by the end of the decade, said it aimed to increase its lending commitment to renewables and decarbonisation technologies to at least 4 billion euros by 2025.

We will align our portfolios and operations with a net zero trajectory

ABN Amro

ABN Amro said in a statement as it announced it was joining the United Nations' NZBA, an industry group of banks committed to aligning their lending and investment portfolios with net-zero emissions by 2050.

Our strategic choice to focus on the Netherlands and Northwest Europe has already significantly reduced our loan portfolio in the carbon-intensive energy, shipping and commodities portfolios. We have developed a roadmap for how we will expand target setting for other sectors.

ABN Amro