SEB and Nordea Lent SEK 14 Billion to Companies Operating in the Arctic, Report Says
In the past two years, the major Swedish banks SEB and Nordea have lent 14 billion kronor (about $1.3 billion) to fossil fuel companies operating in the Arctic, according to a report from Fair Finance Guide. Many Swedish bank customers will be outraged. “It is actually their money that is being used for these loans, among other things,” says Jakob König of the organization. The banks dispute the report’s findings.
Sweden